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Covington schedules second reading for Resolution R38-25 on PEP bonds/coverage
Summary
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.
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.
Council members had no questions during the presentation. The resolution was not voted on; the council scheduled a second reading for Nov. 3, 2025.
No financial terms or effective dates were discussed on Oct. 20; the resolution is set to return for further consideration at the next reading.
