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Council adopts Resolution 1-2025 to permit debt reimbursement for pumping station project

Trappe Town Council · March 5, 2025
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Summary

The council adopted Resolution 1-2025, declaring its official intent to reimburse certain capital expenditures from proceeds of debt for the pumping station project and associated loan; the motion passed unanimously.

President Schmidt read Resolution 1-2025, which states the council's official intent to reimburse expenditures for certain capital projects with proceeds of debt to be issued by the Town of Trappe. Town Attorney Lyndsey Ryan explained the resolution applies to the pumping station project and its associated loan, and allows the town to declare intent to reimburse qualifying expenditures from future debt proceeds.

Commissioner Jeremy Newnam moved to adopt Resolution 1-2025; Commissioner Walter Chase seconded and the motion was approved unanimously. The resolution sets the town’s procedural intent related to financing the pumping station project pending loan issuance.

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