Charles Town
West Virginia

Agenda Item
DOC-2018-81

First Reading and Consideration of an Ordinance Authorizing the Leasing of Certain Sanitary Sewer System Assets from the Charles Town Building Commission and Approving the Issuance by the Charles Town Building Commission of Lease Revenue Bonds in an Amount Not to Exceed $16,000,000

Information

Department:City Manager's OfficeSponsors:
Category:Ordinance

Body

Related to the Charles Town Utility Board's consolidation of sewer assets with Ranson and the Public Service District, new sewer and water lines will be installed to support a new ROXUL industrial development along Route 9.  To finance the construction of the lines, the utility board is requesting the Building Commission issue the debt and enter into a lease arrangement with the city to provide for the repayment of the bonds. 

 

John Stump, an attorney representing the utility board, will be available to discuss the request and attached ordinances.

Meeting History

Jul 2, 2018 4:00 PM  Building Commission Regular Meeting

John Stump was present to explain and answer questions about the proposed ordinance. After a lengthy discussion on the ordinance a motion was made by Commissioner Mahoney seconded by Commissioner Veler to approve the First Reading and Consideration of an Ordinance Authorizing the Leasing of Certain Sanitary Sewer System Assets from the Charles Town Building Commission and Approving the Issuance by the Charles Town Building Commission of Lease Revenue Bonds in an Amount Not to Exceed $16,000,000. The motion passed unanimously.

RESULT:APPROVED [UNANIMOUS]
MOVER:Mary Ellen Mahoney, Commissioner
SECONDER:Keith Veler, Commissioner
AYES:William Warren, Mary Ellen Mahoney, Keith Veler, Liz McDonald, Albert Glascock