Council adopts Ordinance 2024-09 to authorize up to $4M in sewer revenue bonds

The Nutter Fort Town Council unanimously passed Ordinance 2024-09 on second reading, authorizing the town to issue sewer revenue bonds to fund extensions, additions and improvements to its public sewerage system. Councilor Karen Phillips moved to adopt the ordinance; Councilor Rick Lafferty seconded the motion and it passed without dissent.

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 for Sewer Revenue Bonds, Series 2024 B, under the West Virginia State Revolving Fund (SRF) program. The ordinance text in the meeting materials frames the bonds as the financing mechanism for acquisition and construction of improvements to the town’s existing sewer system.

Treasurer Leslie Cummings also reported that Requisition #3 on the Phase IV sewer project was approved by the Sanitary Board in the amount of $312,365.33 and that the sanitary work includes acquisition of a lift station and the addition of three customers from the City of Stonewood. Those engineering and requisition updates were presented to the council as background information but separate from the ordinance vote.

The council did not attach a schedule for bond sale or an effective date beyond authorizing execution and delivery of documents related to issuance; procedural steps and specific financing terms will follow the usual SRF and town-bond processes. Councilors present voted yes: Bryan Gonzalez, Rick Lafferty, Charlene Louk and Karen Phillips.

Next steps: the council’s adoption authorizes staff to proceed with required documents and agreements; the meeting record indicates further administrative steps (bond purchase agreements and typical SRF paperwork) remain to be executed.