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Clarks Hill seeks clarity on county loan for wastewater design as funding source shifts to SRF
Summary
Kathy Vernon, identifying herself as the county council representative for Clarks Hill, told the Tippecanoe County Board of Commissioners on Oct. 20 that the town needs county loan authorization by Oct. 24 to begin wastewater treatment design work after the project's repayment plan shifted to State Revolving Fund financing.
Kathy Vernon, identifying herself as the county council representative for Clarks Hill, told the Tippecanoe County Board of Commissioners on Oct. 20 that the town urgently needs a county loan to begin design work on its wastewater treatment project and faces an Oct. 24 deadline.
Vernon said she had understood the county's prior verbal commitment would be repaid from bond proceeds. After recent conversations with the town's financial adviser, Sean Klein Peter, she learned the project now expects repayment from State Revolving Fund (SRF) financing rather than bonds, and SRF awards are competitive and not guaranteed. “We just need to make a decision on whether or not we're gonna do the same thing we'd intended to…
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