Tazewell council approves up to $15.5 million bond for wastewater treatment upgrade

Tazewell — The Town Council on Aug. 12 approved an ordinance and accompanying resolution that authorizes the issuance of a taxable general-obligation water and sewer bond (Series 2025B) with a principal amount not to exceed $15,500,000 to finance upgrades to the town’s wastewater treatment plant.

During discussion, a council member read the full resolution title and the bond parameters into the record, saying the measure provides “for the issuance, sale and award of the taxable general obligation water and sewer bond … of the Town of Tazewell, Virginia, in a principal amount not to exceed $15,500,000.” Council members noted portions of the funding package include principal forgiveness. “In addition to that, $3,500,000 of it is, in principle, forgiveness in the loan,” one council member said.

Councilors first voted to waive a second reading of the ordinance and then conducted a roll-call vote to adopt the resolution. The mayor announced ‘aye’ votes from present members; one council member was recorded absent. The motion carried.

The ordinance and resolution are the product of multiple council discussions over several years, officials said, with prior delays attributed to the COVID-19 pandemic and rising construction costs. Staff and council emphasized that the paperwork required for a financing of this size — discussed during the meeting as covering procedural and certification steps — will be completed before closing.

Next steps: council records show the clerk will complete required certification paperwork for the resolution and staff will proceed with administrative steps toward sale and award of the bonds. No construction schedule or contractor award was finalized at the meeting.