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Lewisburg council set to consider $1.5 million capital outlay note and reimbursement resolution
Summary
City staff proposed a 2025 capital outlay note and accompanying reimbursement resolution to net roughly $1.5 million for infrastructure projects; consultants estimated a fixed interest rate near 4% and recommended a 12-year amortization with an early-call option to preserve fund balance and avoid tax increases.
Lewisburg City Treasurer Alan Owens and financial consultant John Warner of Cumberland Securities presented a proposed reimbursement resolution tied to a 2025 capital outlay improvement note, recommending a not-to-exceed note that would aim to net about $1,500,000 for a construction fund.
Owens said the reimbursement resolution would allow the city to reimburse the general fund for expenses incurred on ongoing projects before closing on the note. Owens listed potential projects pulled from the adopted 2026 budget: Third Avenue drainage ($485,000), humidification system ($455,000),…
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