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Centerville council adopts grant resolutions, moves on SRF loan parity and bond steps
Summary
Council approved a Community Crossing matching‑grant resolution and moved to complete an IFA parity report tied to a drinking‑water SRF loan and 2024 bond issuance; a $2,000 SRF closing fee was approved.
Centerville's council on Oct. 14 adopted a resolution to participate in the Community Crossing matching grant program and took steps to complete parity documentation required to issue drinking‑water debt.
The council voted to adopt Resolution 2025‑05 to participate in the local roads and bridges matching program for 2026. The motion was carried on roll call.
Staff also briefed the council on a parity report required by the Indiana Finance Authority (IFA) for a planned borrowing tied to the town's 2024 bond issuance. The consultant explained parity means the new bonds must have rights to revenue equal to existing bonds; council authorized engaging the necessary financial advisors or bond counsel to complete the required parity report and closing documents.
Separately, the council approved payment of a $2,000 prepaid SRF closing fee related to the drinking‑water loan process.
Ending: Council directed staff to coordinate with bond counsel/IFA and return the finalized parity report and closing items for any final action necessary.
