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Trappe approves bond anticipation notes for sewer work
Summary
Ordinance 6-2024 authorizing up to $1,141,000 in General Obligation Bond Anticipation Notes (BANs) for interim financing of sewer pumping station projects was adopted unanimously after a public hearing with no public comment.
At the Dec. 4 public hearing President Schmidt read Ordinance 6-2024, which authorizes issuance of no more than One Million One Hundred Forty-One Thousand Dollars ($1,141,000) of General Obligation Bond Anticipation Notes to provide interim financing for sewer pumping station repairs and related improvements. No members of the public offered comment during the hearing.
Commissioner Jeremy Newnam moved to adopt Ordinance 6-2024; Commissioner Rose Potter seconded and the motion was approved unanimously. The ordinance specifies the notes are issued under Section 19-212 of the Local Government Article of Maryland law and Section 612 of the Town Charter and allows designation of specific projects to be financed with those proceeds.
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