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Council introduces $645,000 interim loan to finance ENR wastewater upgrade; hearing set Jan. 7
Summary
Ordinance 7-2025 was introduced to authorize a $645,000 Shore United Bank promissory note to provide interim financing for design of an enhanced nutrient removal wastewater upgrade; Attorney Ryan cited a 5.25% interest rate and maturity date of 12/31/26. A public hearing is scheduled for Jan. 7, 2026 at 6:00 p.m.
The Trappe Town Council on Dec. 3 introduced Ordinance 7-2025 to authorize a $645,000 interim promissory note with Shore United Bank to provide bridge financing for design and early costs of an enhanced nutrient removal (ENR) upgrade to the town’s wastewater treatment plant. President Newnam read the ordinance and Attorney Lyndsey Ryan explained the intended use and repayment plan.
Attorney Lyndsey Ryan stated the loan "will be used to pay for the design of the ENR upgrade with an interest rate of 5.25% and a maturity date of 12/31/26." The council voted unanimously to introduce the ordinance on a motion by Commissioner Potter and a second by Commissioner Chase. The council scheduled a public hearing on the ordinance for Jan. 7 at 6:00 p.m.
