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Nutter Fort council passes second reading of Ordinance 2024-09 to fund sewer improvements
Summary
The Town of Nutter Fort approved the second reading of Ordinance 2024-09 to authorize up to $1.5 million and $2.5 million in sewer revenue bonds through the West Virginia SRF program to finance extensions and improvements to the public sewerage system.
The Town of Nutter Fort council voted unanimously Aug. 27 to pass the second reading of Ordinance 2024-09, authorizing the issuance of sewer revenue bonds to finance extensions, additions and improvements to the town’s sewer system. Councilor Karen Phillips moved to pass the second reading; Councilor Rick Lafferty seconded and the motion passed by unanimous vote.
The ordinance authorizes up to $1,500,000 in original aggregate principal for Sewer Revenue Bonds, Series 2024 A, and up to $2,500,000 in original aggregate principal for Sewer Revenue Bonds, Series 2024 B, under the West Virginia State Revolving Fund (SRF) program. The move follows earlier project activity reported in the Treasurer’s report: Requisition No. 3 for Phase IV of the sewer project was approved by the Sanitary Board in the amount of $312,365.33 and the acquisition of a lift station and three customers from the City of Stonewood was noted as approved.
Councilors said the bond authorization will allow staff to finalize documents for sale and closing under the SRF program, after which project financing and construction steps will proceed according to the ordinance and SRF requirements. The council did not make additional amendments to the ordinance at the meeting; the second-reading passage advances the financing process under the terms laid out in the ordinance.
