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Town Board approves payments and hires bond counsel, financial adviser for Home City Road water project
Summary
At a regular Town Board meeting, members approved paying Dots and Associates $15,000 for engineering work and voted to retain ORC as bond counsel (not to exceed $45,000) and a financial adviser (not to exceed $22,000) to support financing for the Home City Road water project.
The Town Board voted during a regular meeting to approve several payments and professional hires tied to the Home City Road water project.
Chair (speaker 1) moved to pay Dots and Associates $15,000 for professional engineering services; the motion was seconded and approved by voice vote. The board then voted to retain ORC as bond counsel to assist with funding for the Home City Road water project, with a not-to-exceed amount of $45,000. The board also discussed hiring a financial advisory firm to help convert financing to a bond and to assist with grant work and issuance, at a proposed cost not to exceed $22,000. All three items were put to motion and received seconding and voice approval.
Board members framed the hires as part of ongoing efforts to move a water project from loan toward a bond issuance and to secure grant funding and lower interest financing. Chair (S1) said the adviser would "help with the grant" and assist in the issuance process. No dissent or recorded roll-call vote counts were provided in the transcript; approvals were recorded as voice votes with board members responding "Aye."
The actions follow earlier project work the board discussed during the meeting, including field work and inspection visits related to the water main and sewer work. Next steps include contract finalization with the listed firms and continued project oversight by staff and the board.
