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Montgomery Selectboard approves $1 million STEP III loan application for wastewater project
Summary
The Town of Montgomery Selectboard approved a $1,000,000 STEP III loan application May 8 to preserve eligibility to refinance construction debt for the Municipal Wastewater System Project; the motion passed unanimously, 3-0.
The Town of Montgomery Selectboard & Water Commission voted unanimously May 8 to approve a STEP III loan application requesting $1,000,000 to maintain the town's eligibility for refinancing construction debt through the State Revolving Loan Fund.
Selectboard Chair Charlie Hancock presented the STEP III loan paperwork and described the filing as an annual step to preserve the town's refinancing options for the Municipal Wastewater System Project. Mark Brouillette moved to approve the application; Daniel Kahn seconded. The motion passed 3-0.
The application amount was listed as $1,000,000, the same amount requested in prior years. The minutes record that the filing is an annual administrative action to ensure continued eligibility for the State Revolving Loan Fund; no amendments or conditions to the application were recorded at the meeting.
Next steps were not detailed in the meeting minutes provided; the board did not record any additional direction to staff at this special meeting.
