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Council approves resolutions clearing way for city to assume guarantor role on water assets transfer
Summary
Council approved Resolutions 2026-17 (lease termination) and 2026-18 (execution of transfer documents) to move water-system ownership and allow the city to act as guarantor for the Pennvest borrowing; council said the authority has already signed required paperwork and authorized mayor and clerk to sign.
Lock Haven City Council on July 6 approved two linked resolutions to complete steps needed for transfer of the city's water system assets and to position the city as guarantor for related Pennvest borrowing.
Staff explained Resolution 2026-17 authorizes termination of the existing lease related to water assets (sewer assets remain with the authority) and Resolution 2026-18 authorizes execution of documents related to transfer of the water system and authorizes signature by the mayor and city clerk. The city authority had reviewed and approved the documents and several signatories completed required signatures in advance.
Council discussed consolidation of multiple property agreements around the McElhaney reservoir area and staff said attorneys for both sides expect to complete the process by the scheduled July 8 closing. Members voted to approve both resolutions by roll-call vote.
Next steps: The mayor and city clerk will sign the transfer documents to effectuate the transaction as scheduled and staff will coordinate the closing with the city authority's attorneys.
