Greenville council approves up to $11 million trust agreement to finance public improvements

The Greenville City Council on Feb. 13 approved entering into a trust agreement or installment financing agreement not to exceed $11,000,000 to finance public improvements.

Chief Financial Officer Jacob Joyner said the financing would cover the bulk of a BUILD grant project and phase 2 of the public works stormwater pipe replacement. “This is, required public hearing, according to state statute, so that city can enter into a trust agreement, not to exceed $11,000,000 for financing,” Joyner said during the public hearing.

The resolution as presented authorizes city staff to execute and deliver a trust agreement in connection with the financing of various capital improvements and notes that the application for the financing is scheduled to be considered by the Local Government Commission at its March 4, 2025 meeting. After the public hearing the council moved to approve the resolution. The motion was made by Council member Blackburn and seconded by Council member Robinson; the clerk announced, “Motion passes 4 0.”

Council discussion on the item was brief; no members of the public spoke in favor or opposition during the hearing. Joyner listed the BUILD grant project and stormwater pipe replacement as the primary capital projects to be funded under the financing.

The council record does not identify individual roll-call votes on the resolution in the transcript; the clerk announced the final tally as 4–0 in favor. The application will next be reviewed by the Local Government Commission on March 4, 2025, per the presentation.

A copy of the resolution and the financing application are part of the council packet and will be available from city finance staff.