Nutter Fort council adopts Ordinance 2024-09 authorizing up to $4 million in sewer revenue bonds

The Town of Nutter Fort Council unanimously passed Ordinance 2024-09 on second reading on Aug. 27, authorizing the town to issue sewer revenue bonds to finance extensions, additions, betterments and improvements to the existing public sewerage system. The ordinance text authorizes "not more than $1,500,000 in original aggregate principal amount of Sewer Revenue Bonds, Series 2024 A (West Virginia SRF Program); and not more than $2,500,000 in original aggregate principal amount of Sewer Revenue Bonds, Series 2024 B (West Virginia SRF PROGRAM/FORGIVABLE)." Councilor Karen Phillips moved for passage and Councilor Rick Lafferty seconded; the motion passed by unanimous vote.

Councilors and staff framed the ordinance as a financing vehicle for sewer system projects under development. The council’s action authorizes execution and delivery of documents related to issuing the bonds and approving a bond purchase agreement; it also provides for the terms and security for registered owners of the bonds. Specific project-level expenditures and timing will be determined through project planning and procurement, and staff did not present a final project list at the meeting. The sanitary system’s Phase IV work was reported separately in the engineering update and related pay applications were discussed in the Treasurer’s report.

Next steps noted in the meeting record include completing any necessary administrative steps to issue the bonds and executing the documents contemplated by the ordinance. The council record does not specify sale dates, underwriter terms, or a project-by-project funding breakdown.