Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Wwtf Financing topic
No spam. Unsubscribe anytime.
Rockland board approves WWTF design contracts and lender agreements to advance plant upgrade
Summary
The Village of Rockland approved professional design and financing steps for a wastewater treatment facility upgrade, including a design contract with MSA and lending arrangements with River Bank; the board also authorized pursuing Clean Water Fund financing.
The Village of Rockland board on June 9 approved final design and financing steps intended to advance a wastewater treatment facility (WWTF) upgrade. Trustees signed a WWTF Upgrade Final Design Professional Services Agreement with engineering firm MSA and authorized MSA to prepare a Clean Water Fund application to seek long-term project financing. The board also adopted a resolution declaring the village’s official intent to reimburse expenditures related to the project.
Financing discussion included interim and longer-term lending. River Bank was authorized to renew a $70,000 line of credit at 4.4% interest due in August 2027 and to contract a 10-year, $215,000 capital outlay loan at 4.4% interest (the board recorded that the capital loan will be renewed in three years). Trustee Valerie Williams moved the loan motions, Trustee Seth Hemmersbach seconded, and the board carried the motions. Authorized signers for the loans are President Jon Hohlfeld and Clerk/Treasurer Melody Brueggeman. The village minutes say the bank is “working on interim financing for the WWTP Project,” and the board recorded that MSA will prepare the Clean Water Fund application to pursue construction financing.
