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Nutter Fort council adopts sewer revenue bond ordinance to fund sewer system improvements
Summary
The Town of Nutter Fort approved an ordinance authorizing sewer revenue bonds to finance extensions and improvements to the town sewer system; the council voted unanimously after a brief public hearing with no comments.
The Town of Nutter Fort council on Oct. 29 adopted an ordinance authorizing the acquisition and construction of extensions, additions and improvements to the town's public sewerage system and the issuance of sewer revenue bonds to finance the work. The council opened a public hearing on the financing (Ordinance 2024-09) at 6:32 p.m. and, hearing no public comment, closed the hearing the same minute before voting on the ordinance.
The ordinance, as presented to the council, authorizes the issuance of two series of sewer revenue bonds under the West Virginia State Revolving Fund (SRF) program: Series 2024 A and a forgivable Series 2024 B. The measure passed by unanimous vote after Councilor Rick Lafferty moved to approve and Councilor Charlene Louk seconded. The record lists the ordinance as providing for the sale and terms of bonds to fund the sewer improvements; specific maximum aggregate principal amounts were discussed in the meeting record as $1,500,000 for Series 2024 A and $2,500,000 for Series 2024 B.
Councilors and staff indicated the bond financing will be processed through the SRF program and the Municipal Bond Commission as part of the town's capital funding for sewer system upgrades. The council did not receive public objections during the hearing and adopted the ordinance at the special meeting held Oct. 29.
