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Hamlet council approves bond counsel and resolution to pursue $12 million wastewater financing
Summary
Council approved hiring bond counsel and voted to adopt a resolution to seek roughly $12 million in financing to build a wastewater treatment plant; staff said specialized legal work is required to satisfy Local Government Commission rules before borrowing.
City staff told the council the city will seek about $12 million in financing for a wastewater treatment plant and that specialized bond counsel is needed to manage the Local Government Commission certification and other legal steps. Staff recommended hiring an outside firm with experience on municipal financings to avoid procedural or certification errors during the borrowing process.
A council member moved that the city hire bond counsel identified in the packet (named in the meeting as Sanford Wholehouser) to proceed with the financing work; the motion was seconded and approved by voice vote. Council then approved a related resolution (identified in the packet as Resolution 26‑05) to support an application to the Local Government Commission that is required for the financing.
Staff said the bond counsel work is proportionate to the transaction scale and is intended to protect the city and ensure the $12 million financing is issued correctly. The council’s approval authorizes staff to continue the LGC application process and to proceed with the legal steps necessary for the financing.
Next steps: staff will complete the LGC application and continue contract work with bond counsel as the city moves toward bid and construction planning for the wastewater treatment plant.
