Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Bond Administration topic
No spam. Unsubscribe anytime.
Nutter Fort council approves supplemental, draw and sweep resolutions for sewer bonds
Summary
Following adoption of the bond ordinance, the council unanimously approved a supplemental resolution, a draw resolution to pay invoices, and a sweep resolution for automatic payments to the Municipal Bond Commission to implement bond administration.
After adopting the bond ordinance, the Town of Nutter Fort council voted to approve three administrative resolutions to implement the bond financing.
Council approved a Supplemental Resolution related to the bonds, a Draw Resolution to authorize payment of invoices from bond proceeds, and a Sweep Resolution to establish automatic payments to the Municipal Bond Commission. Each resolution passed by unanimous vote after motions and seconds recorded in the minutes.
The approvals are procedural steps that allow the town to manage draws and payments once bond proceeds are available and to comply with Municipal Bond Commission procedures; motions were made and seconded by councilors recorded in the minutes.
