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Trappe introduces two ordinances to secure up to $1.141 million for sewer pumping-station work
Summary
The council introduced Ordinances 5-2024 and 6-2024 proposing up to $1,141,000 in bonds and bond anticipation notes to fund repairs and replacements of sanitary sewer pumping stations; USDA and bond counsel reviewed drafts and hearings are set for Dec. 4, 2024 at 5:45 p.m.
At its Nov. 6, 2024 meeting, the Trappe Town Council introduced two related measures to finance necessary sanitary sewer pumping-station work.
Ordinance 5-2024 proposes issuing up to $1,141,000 in bonds "to provide funds necessary to pay the costs of repairing, upgrading or replacing sanitary sewer pumping stations" and related costs; Attorney Lyndsey Ryan said USDA and bond counsel reviewed draft language and recommended introduction because the town's interim financing with Shore United is set to expire Dec. 5, 2024. Commissioner Jeremy Newnam moved to introduce the ordinance and Commissioner Walter Chase seconded; the council voted to introduce it and set a public hearing for Dec. 4, 2024 at 5:45 p.m.
Ordinance 6-2024 would authorize up to $1,141,000 in General Obligation Bond Anticipation Notes in anticipation of future bond issuance for the same sewer projects. Attorney Ryan said Ordinance 6-2024 accompanies Ordinance 5-2024; Commissioner Newnam moved to introduce the measure, Commissioner Michael Sullivan seconded, and the council voted to introduce it with a Dec. 4, 2024 public hearing at 5:45 p.m.
Both introductions were approved by the council on unanimous voice votes. The ordinances were described as interim financing steps tied to USDA requirements; the council will consider public comments and formal adoption after the Dec. 4 hearings.
