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Trappe introduces bond anticipation notes to bridge sewer project financing

Trappe Town Council · November 6, 2024
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Summary

Ordinance 6-2024 was introduced Nov. 6 to authorize up to $1,141,000 in General Obligation Bond Anticipation Notes for the pumping-station project; a Dec. 4 public hearing at 5:45 p.m. was scheduled.

President Schmidt read Ordinance 6-2024 on Nov. 6, which would authorize General Obligation Bond Anticipation Notes (up to $1,141,000) in anticipation of future general-obligation bonds to fund repairs or replacement of sewer pumping stations. Attorney Ryan said the ordinance is in conjunction with Ordinance 5-2024. Commissioner Jeremy Newnam moved to introduce Ordinance 6-2024; Commissioner Michael Sullivan seconded and the introduction was approved unanimously. A public hearing was scheduled for Dec. 4 at 5:45 p.m.

The minutes record the introduction and hearing schedule but do not include final note terms; the ordinance references state statutory authority (Local Government Article, §19-212) and Charter §612.

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