Covington schedules second reading for Resolution R38-25 on PEP bonds/coverage
Council reviewed Resolution R38-25 to authorize an agreement with PEP for bonds/faithful-performance coverage in lieu of a surety bond; no vote was taken and a second reading is set for Nov. 3, 2025.
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At the Oct. 20 meeting, Covington council reviewed Resolution R38-25, which would authorize the village to execute an agreement with PEP for bonds and faithful-performance coverage in place of a surety bond required under state law. Administrator Jordan Hodges described the coverage as meeting the requirements of the Ohio Revised Code.
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