Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Wastewater Project topic
No spam. Unsubscribe anytime.
Council sets Aug. 18 closing for USDA interim loan on wastewater plant
Summary
After an update from Colter Hollingshead, the council set Aug. 18 as the closing date to transfer a DEQ loan to USDA for the wastewater-treatment plant and authorized the mayor to sign necessary documents after attorney review.
Colter Hollingshead briefed the council on the closing needed to move the wastewater treatment plant loan from DEQ to USDA, explaining the transfer must occur by August 31 under the DEQ loan terms and that the plant is currently about "80%" complete. He said USDA would assume repayment from DEQ once closing occurs and recommended setting a precise date in August for the loan-closing paperwork.
Councilmember Speaker 2 moved to set the USDA interim loan closing date as Aug. 18 and to instruct the mayor to sign necessary documents following attorney review; the motion was seconded and approved. Council members emphasized the attorney's review of loan documents before any signatures and confirmed adequate funding is available to finish plant construction before the closing. The action records the council's direction and instructs staff to notify USDA and complete the paperwork once legal review is finished.
