Trappe Introduces Bond and Note Ordinances to Finance Sewer Pumping-Station Work
On Nov. 6 the council introduced Ordinances 5-2024 and 6-2024 to provide interim financing of up to $1,141,000 for repairing or replacing sanitary sewer pumping stations; USDA and bond counsel reviewed drafts and a Dec. 4 public hearing is set.
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President Schmidt read Ordinance 5-2024 and Ordinance 6-2024 describing interim financing (bonds and bond anticipation notes) to raise up to One Million One Hundred Forty-One Thousand Dollars ($1,141,000) for sanitary sewer pumping-station repairs and replacements. Town Attorney Lyndsey Ryan told the council the ordinances reflect additional funds the town must secure from USDA because project costs increased; bond counsel also reviewed drafts. Commissioner Jeremy Newnam moved to introduce Ordinance 5-2024; Commissioner Walter Chase seconded and the motion, and a separate motion to introduce Ordinance 6-2024, passed unanimously.
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