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Nutter Fort council adopts sewer revenue bond ordinance to fund system improvements
Summary
The council approved an ordinance authorizing sewer revenue bonds under the West Virginia SRF program to finance extensions and improvements to the town’s public sewerage system; the ordinance passed unanimously on third reading.
The Nutter Fort Town Council voted unanimously on Oct. 29, 2024 to adopt an ordinance authorizing the acquisition and construction of extensions, additions and improvements to the town’s public sewerage system and to finance the work through issuance of sewer revenue bonds under the West Virginia State Revolving Fund (SRF) program. "Ordinance 2024-07 passed by unanimous vote after Rick Lafferty moved to approve the ordinance and the motion was seconded by Charlene Louk," the meeting record states.
The ordinance text as read at the meeting authorized issuance of bonds tied to two Series under the WV SRF program; the transcript lists an amount for Series 2024 A as "not more than $1,500,00" (transcription appears to contain a formatting error) and Series 2024 B as not more than $2,500,000. Councilor Rick Lafferty moved to approve the ordinance and Councilor Charlene Louk seconded; the measure carried unanimously. The ordinance covers bond sale mechanics, security for bond owners, and authorizes execution of related documents and a bond purchase agreement. The council did not record a numeric vote tally in the minutes.
Why it matters: the bond financing will provide the town a legal and financial framework to proceed with sewer capital work under the SRF program. The council’s approval on third reading completes the local legislative step needed before closing on SRF financing and related bond documents.
