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Altamont council authorizes staff to respond to SRF for $2 million loan
Summary
Council voted to begin the State Revolving Fund loan process by responding to SRF for a $2 million loan and discussed possible future sales tax options to fund projects.
The Altamont City Council moved to initiate the State Revolving Fund application process for a $2,000,000 loan. Councilmember Lyle Sykes moved to respond to the SRF and Councilmember Kyle Wiford seconded; the motion carried. City Administrator Myers had previously briefed council members on SRF and USDA loan options and on preliminary discussions about a possible sales tax increase to fund future projects if voters approve such a measure.
Council did not set a tax increase or a ballot question; members discussed funding options as part of early planning. The formal motion authorizes staff to proceed with the SRF response and begin related administrative steps toward seeking loan financing.
