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Nutter Fort council approves bond administration resolutions and names mayor as SRF authorized representative
Summary
Councilors approved a supplemental resolution, a draw resolution for invoices, and a sweep resolution to the Municipal Bond Commission; they also appointed Mayor Sam Maxson as the town's authorized representative for DEP SRF forms, all by unanimous vote.
The Nutter Fort Town Council took several administrative steps on Oct. 29 to prepare for issuance and management of the sewer revenue bonds. Councilors approved a Supplemental Resolution relating to the bonds, a Draw Resolution to allow payment of invoices from bond proceeds, and a Sweep Resolution to provide for automatic payments to the Municipal Bond Commission. Each resolution passed by unanimous vote after motions by Councilor Charlene Louk and seconds by Councilor Karen Phillips.
The council also passed an Authorized Representative Resolution naming Mayor Sam Maxson as the town's authorized representative to sign any DEP SRF forms related to the bonds. The appointment was made by motion of Councilor Charlene Louk, seconded by Councilor Karen Phillips, and recorded as approved unanimously in the meeting minutes. These steps complete administrative approvals recorded in the minutes needed for bond closing and SRF program compliance; the minutes do not include the text of the resolutions or details on timing of the bond draw schedule.
The minutes show no public comment on these procedural items and do not provide a timetable for draws or a breakdown of invoices expected to be paid from bond proceeds. Staff follow-up was indicated in the minutes as the next step.
