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Trappe introduces ordinance for interim financing of ENR wastewater upgrade; public hearing set for Jan. 7
Summary
The council introduced Ordinance 7-2025 to authorize a $645,000 line-of-credit to provide interim financing for design and construction of an enhanced nutrient removal (ENR) wastewater treatment upgrade, noting a 5.25% interest rate and maturity date of 12/31/26. A public hearing is scheduled for Jan. 7 at 6:00 p.m.
President Newnam read Ordinance 7-2025, which authorizes a Line of Credit Promissory Note with Shore United Bank in the principal amount of $645,000 to provide interim financing for design and construction of an upgraded wastewater treatment plant for enhanced nutrient removal (ENR). Town Attorney Lyndsey Ryan said the line will be used to pay for ENR design at an interest rate of 5.25% with a maturity date of 12/31/26.
Commissioner Rose Potter moved to introduce Ordinance 7-2025; Commissioner Walter Chase seconded and the motion passed unanimously. The council scheduled a public hearing on the ordinance for Jan. 7 at 6:00 p.m. to accept public comment before any final action.
