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Council approves supplemental, draw and sweep resolutions for sewer bonds
Summary
Following the ordinance vote, the Nutter Fort council unanimously approved a supplemental resolution, a draw resolution to pay bond invoices, and a sweep resolution to automate payments to the Municipal Bond Commission. Motions were made by Councilor Charlene Louk and seconded by Councilors Karen Phillips and Bryan Gonzalez.
After adopting the sewer revenue bond ordinance, the council took three bond-administration steps. The council approved a Supplemental Resolution related to the bonds, a Draw Resolution authorizing payment of bond-related invoices, and a Sweep Resolution to enable automatic payments to the Municipal Bond Commission; each resolution passed by unanimous vote on motions made by Councilor Charlene Louk and seconded by Councilors Karen Phillips and Bryan Gonzalez as recorded.
The meeting record does not include dollar-by-dollar accounting for the draw or sweep actions; minutes state only that the resolutions were approved unanimously. The council did not discuss alternate payment arrangements on the record. Next steps appear to be administrative: executing the resolutions and coordinating payments through the Municipal Bond Commission and the town's finance office.
