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Columbiana staff: ADEM finalizing SRF supplemental loan; council to consider approval Sept. 16
Summary
City staff told the Columbiana City Council that the Alabama Department of Environmental Management is finalizing closing documents for a State Revolving Fund supplemental loan for the town—s sewer treatment plant; the council is scheduled to consider the loan at its Sept. 16 meeting and the official closing would follow approval.
City staff said the Alabama Department of Environmental Management is finalizing closing documents for a State Revolving Fund (SRF) supplemental loan to support Columbiana's sewer treatment plant, and the City Council will be asked to approve the loan at its Sept. 16 meeting.
"Got some good news today from, ADEM. They're finalizing the, closing documents for our SRF supplemental loan for the sewer treatment plant, and, they said possibly could have the documents prepared by this week. Hopefully, early next week with Sam and and then the council will need to approve, that loan at our September 16 council meeting and and then the official closing will take place after that," a city staff member said during departmental reports.
The loan is presented as supplemental SRF financing for work at the treatment plant; city staff said formal approval will occur at the Sept. 16 council meeting and the closing will occur afterward. No vote on the loan was taken at this meeting.
Actions taken at the Sept. 2 meeting included approving the minutes of the Aug. 19 regular council meeting. The record shows the minutes were approved as written; no roll-call vote or mover/second was recorded in the transcript excerpt.
City staff did not provide the loan amount, interest rate, or repayment schedule in the statements recorded here; those details were not specified and are expected to be presented to the council at the Sept. 16 meeting.
If the council approves the SRF supplemental loan at the Sept. 16 meeting, city staff said the official loan closing would follow that approval. The city did not provide a target calendar for construction milestones or an implementation timeline at this meeting.
