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Poseyville adopts roughly $2 million wastewater bond, suspends second‑reading rule to expedite project
Summary
Poseyville unanimously adopted Ordinance No. 2026‑03‑10‑01 to issue Sewage Works Revenue Bond Series 2026 (about $2,000,000) to fund wastewater treatment plant renovations tied to the North Posey High School sewer project and hired bond counsel Bose McKinney & Evans LLP; council suspended the usual second‑reading delay to meet project timing.
Poseyville’s Town Council on March 10 adopted Ordinance No. 2026‑03‑10‑01 to authorize the Sewage Works Revenue Bond Series 2026, a financing measure the town estimates will support roughly $2,000,000 in wastewater treatment plant renovations connected with the North Posey High School sewer project. Attorney Brenda DeVries, representing bond counsel, reviewed the bond terms and a proposed timetable contingent on bidding and project progress.
The council voted unanimously to hire Bose, McKinney & Evans LLP as bond counsel after a motion by Council member Mike Baehl and second by Randy Rankin. DeVries described alternate engineering items in the project plan that would allow officials to scale scope if construction bids exceed estimates. Jeremy Farrar, the town’s utility manager, confirmed the engineering report and the inclusion of alternates to manage price risk.
Because of project timing, the council suspended the rule requiring a separate second reading; after that suspension passed unanimously, the council immediately held a second reading and adopted the ordinance by roll call (Justin Rutledge, Mike Baehl, Randy Rankin voting yes). No public comments opposing the ordinance were recorded at the meeting. The ordinance adoption sets the town’s next steps to proceed with bid solicitation and subsequent contract awards consistent with the ordinance and bond timetable.
