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Trappe council renews $100,000 line of credit in unanimous vote
Summary
The Trappe Town Council adopted Resolution 4-2025 renewing a $100,000 Shore United Bank line of credit; Attorney Lyndsey Ryan said the line currently has a zero balance and councilors approved the measure unanimously.
The Trappe Town Council voted unanimously Dec. 3 to adopt Resolution 4-2025, authorizing renewal of a $100,000 line-of-credit promissory note with Shore United Bank, N.A. President Newnam read the resolution and Town Attorney Lyndsey Ryan reviewed the line’s history.
Attorney Lyndsey Ryan told the council, "This Line of Credit has a zero balance." Commissioner Rose Potter moved to adopt the resolution; Commissioner Walter Chase seconded and the motion carried with all members voting yes (Sullivan, Newnam, Potter, Chase). The clerk’s report and the town’s FY24/25 financial audit were filed as part of the meeting record.
