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Nutter Fort accepts first reading of ordinance authorizing up to $4M in sewer revenue bonds
Summary
Council accepted first reading of Ordinance 2024-09 to finance sewer system extensions and improvements through up to $1.5M in Series 2024 A and up to $2.5M in Series 2024 B Sewer Revenue Bonds (WV SRF Program); the reading passed unanimously.
On Aug. 13 the Town of Nutter Fort Council accepted the first reading of Ordinance 2024-09, authorizing the issuance of sewer revenue bonds to finance extensions and improvements to the town sewerage system.
Ordinance 2024-09, as presented, would allow up to $1,500,000 in original aggregate principal amount of Sewer Revenue Bonds, Series 2024 A (West Virginia SRF Program) and up to $2,500,000 in Series 2024 B (WV SRF Program/forgivable). The ordinance includes provisions for sale, bond-purchase agreements and security for registered owners. Councilor Charlene Louk moved to accept the first reading; Councilor Karen Phillips seconded, and the motion carried unanimously. Further readings and final approval were not recorded at this meeting.
