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Middletown council weighs options for $74,298 left from 2015 water-plant loan
Summary
The council reviewed three options from the Indiana Finance Authority for managing $74,298 remaining from a 2015 water plant loan — reimbursement of invoices, finding a new eligible project, or closing the loan — and discussed using the funds for fire-hydrant replacement pending outstanding invoices and an incomplete security gate.
The Middletown Town Council on July 16 reviewed options for spending or closing out $74,298 remaining from a 2015 loan for the town's water plant.
Tim Mundell reported the Indiana Finance Authority offered three choices for the remaining funds: (1) provide invoices for reimbursement of already listed items; (2) identify a new eligible project to spend the funds; or (3) close out the loan. Utility Superintendent Carl Spears said two related invoices remain outstanding and that contractor Scott Emswiller has not finished a security gate funded by the same loan.
Council members discussed possible uses for the money; one suggestion was to use the remainder to replace aging fire hydrants. No final decision was recorded in the minutes; the council discussed the options and noted outstanding invoices and incomplete contracted work that may affect how the funds can be used.
The minutes do not specify deadlines imposed by the Indiana Finance Authority or any immediate vote to reallocate the funds. The council also did not record a definitive plan for procurement, a schedule for hydrant replacement or an exact dollar breakdown for that proposed use.
Next procedural steps were not specified in the minutes beyond staff reporting and follow-up on outstanding invoices and contracted work.
