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Tazewell council approves water and sewer bond resolution for Route 460 project
Summary
The Town Council passed a resolution authorizing issuance of taxable general‑obligation water and sewer bonds for the Route 460 waterline and related upgrades; the series authorizes a principal amount not to exceed $1.3 million for the series and advances planned system repairs.
The Town of Tazewell council on Feb. 11 approved a resolution permitting the issuance of taxable general‑obligation water and sewer bonds to finance improvements tied to the Route 460 waterline project.
Council voted to adopt the resolution after a brief staff presentation on the project scope and financing mechanics. The resolution authorizes the town to issue a series of taxable water and sewer bonds (Series 2025A) with a principal amount for that series not to exceed $1,300,000. According to the reading delivered at the meeting, proceeds would fund water line replacement, development of an asset‑management plan, wastewater treatment plant rehabilitation and related expenses.
Town staff said the bonds may be repaid from the town’s full faith and credit and that the town may pledge net revenues from its water and sewer systems as additional security. The town manager summarized coordination with the PSA and noted companion actions already taken by the utility partner.
The resolution passed on a voice vote with multiple council members saying “aye.” No public speakers spoke for or against the bond during the notice period; the manager read the public‑hearing notice earlier in the meeting.
What happens next: The council’s resolution is a required step to proceed with bond sale planning. Staff indicated companion administrative steps and continued coordination with the PSA and state funding partners will follow.
Sources: Town staff presentation and council action at the Feb. 11 council meeting.
