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Randleman approves participation in PTRWA bond; commits 4.01% share for PFAS removal
Summary
The Randleman Board of Aldermen unanimously approved resolutions authorizing the city’s obligations under Piedmont Triad Regional Water Authority bond anticipation notes and an amended interlocal agreement; the city will participate at 4.01% in the project’s emerging-compounds (PFAS) work, with the PTRWA notes capped at $130 million.
The Randleman Board of Aldermen voted unanimously Sept. 3 to authorize the city’s participation in Piedmont Triad Regional Water Authority (PTRWA) bond anticipation notes and an amended joint governmental agreement that govern regional water projects and debt obligations.
PTRWA Executive Director Greg Flory told the board the Series 2024 Water System Revenue Bond Anticipation Notes would finance an expansion of a regional water-treatment plant and work to remove PFAS and other emerging compounds. Flory said the plant expansion is not related to Randleman’s system but that Randleman will participate in the emerging-compounds portion of the project at 4.01% of the applicable costs. "The City of Randleman will be participating in the Emerging Compounds portion of the project at 4.01%," Flory said.
Interim City Manager Shain Sexton reviewed the packet materials, which included an amended and restated joint governmental agreement and two draft resolutions: Resolution 24-11, authorizing and approving bond anticipation notes in an amount not to exceed $130,000,000, and Resolution 24-12, concerning the city's obligations under the joint agreement. City Attorney Bob Wilhoit reviewed the documents with the board before PTRWA’s director arrived.
Alderwoman Nancy Henderson moved to adopt Resolution 24-11 and Resolution 24-12; Mayor Pro-Tempore Michael Dawkins seconded. The board approved both resolutions unanimously. The resolutions acknowledge Randleman’s pro rata debt-service obligations under the amended interlocal agreement and authorize staff to complete required paperwork to execute the city’s obligations under the PTRWA documents.
Why it matters: the PTRWA action authorizes the regional financing instrument and confirms Randleman’s commitment to pay its share for the PFAS and emerging-compounds work. The resolutions do not themselves obligate Randleman to borrow beyond its agreed share; they approve the city’s role under the joint agreement and the authority for PTRWA to issue the Series 2024 notes up to the stated cap.
The board did not discuss alternative financing scenarios in detail at the meeting. According to materials included with the agenda, the bond anticipation notes were described as "not to exceed $130,000,000." The next step recorded in the meeting is execution of the resolution paperwork and coordination with PTRWA on the amended interlocal agreement and debt-service schedule.
