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Trappe Introduces Bond and Note Ordinances to Finance Sewer Pumping-Station Work
Summary
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.
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.
Ryan said the ordinances were introduced in part because the town's interim financing with Shore United is set to expire Dec. 5. Both ordinances were set for public hearing on Dec. 4 at 5:45 p.m.; the council did not adopt either ordinance at the Nov. 6 meeting.
