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Lock Haven approves Penvest resolutions and holds first reading on sewer borrowing ordinance
Summary
Council adopted two resolutions required for upcoming Penvest water loan closings and approved first reading of a borrowing ordinance for sewer plant upgrades; staff outlined timelines and grant inclusion for the sewer project.
Lock Haven City Council on June 1 adopted two resolutions required for the city’s upcoming Penvest water financing and completed first reading of an ordinance tied to sewer financing.
City finance counsel (identified in the meeting as Jen) told council the water‑loan resolution establishes charge and rate language required before Penvest will close on the loan. Jen described a second resolution authorizing reimbursement of certain short‑term borrowing if used for the project, another Penvest requirement.
Council also held the first reading of Ordinance 2026‑05, a guaranteed sewer revenue bond to support UV screen installations and other sewer plant upgrades. Staff reported the sewer package includes a grant award referenced in the packet; second reading is scheduled for the June 15 meeting and staff will manage the required legal advertisements and DCD filings before closing.
All motions related to the Penvest resolutions and the first reading carried on recorded votes. Staff noted Penvest closing items are due by Aug. 8 for the water loan with an official sewer funding closing scheduled for Aug. 31.
Next steps: staff and counsel will complete required filings and prepare documents for the June 15 second reading and subsequent closings.
