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Council accepts first reading of sewer revenue bond ordinance to fund sewer improvements
Summary
On first reading, the council accepted Ordinance 2024‑09 authorizing up to $1.5M (Series A) and up to $2.5M (Series B, forgivable) in sewer revenue bonds under the WV SRF program to finance sewer system extensions and improvements.
During new business on Aug. 13, the Town of Nutter Fort council accepted the first reading of Ordinance 2024‑09, which would authorize the issuance of sewer revenue bonds to finance extensions, additions and improvements to the town’s sewer system.
The ordinance text presented to council specifies not more than $1,500,000 in original aggregate principal for Sewer Revenue Bonds, Series 2024 A, and not more than $2,500,000 in original aggregate principal for Sewer Revenue Bonds, Series 2024 B (forgivable), with execution and delivery of related documents authorized under the West Virginia State Revolving Fund program. Councilor Charlene Louk moved to accept the first reading, Councilor Karen Phillips seconded, and the motion carried unanimously.
Acceptance of the first reading begins the formal ordinance process; future council action will set final terms, sale mechanics, and any required public notices. The minutes do not include a detailed project list tied to the bond proceeds; council will consider documentation and documentation of rights, remedies, and security for registered owners as the ordinance advances.
