Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Line Of Credit topic
No spam. Unsubscribe anytime.
Trappe council renews $100,000 line of credit with Shore United Bank
Summary
The Trappe Town Council unanimously adopted Resolution 4-2025 to renew a $100,000 line-of-credit promissory note with Shore United Bank; Attorney Lyndsey Ryan said the line currently has a zero balance. The action was approved to maintain short-term financing availability ahead of planned infrastructure work.
The Trappe Town Council on Dec. 3 unanimously adopted Resolution 4-2025 authorizing renewal of a $100,000 line-of-credit promissory note with Shore United Bank. President Newnam read the resolution and Town Attorney Lyndsey Ryan reviewed the account's history.
Attorney Lyndsey Ryan said, "This Line of Credit has a zero balance." Commissioner Rose Potter moved to adopt the resolution; Commissioner Walter Chase seconded the motion and the vote was unanimous. The council adopted the renewal to preserve an available short-term financing option as the town prepares for upcoming infrastructure projects.
