By Sterling McGinn
At their July regular meeting, the Newberry Village Council approved the adoption of a bond to pay portions of the Clean Water State Revolving Fund (CWSRF) Project plan.
The meeting was held on Tuesday, June 18 at 6 p.m. in the Water and Light building.
The project is for improvements to the sanitary sewer system for the Village of Newberry, a project which has been discussed for many months at council meetings.
“This bond ordinance is required by state law,” explained Newberry Village Manager Allison Watkins.
The ordinance authorizes bonds to be issued in an amount not to exceed $840,000; the total project cannot exceed $1,680,000.
The estimated cost of the project totals $1,025,000 with 50 percent of the funds coming from a grant and the other 50 percent is from a loan.
“The plan is to ask $512,000 in bond debt right now,” said Watkins.
The Michigan Department of Environment, Great Lakes and Energy (EGLE) will approve the final amount of the bond when they issue their order of approval for the project on August 8.
“This ordinance does not change anything that we had talked about—the amounts are the same–it is basically the council saying that we are officially accepting this, and this is the process we need to follow,” Watkins said.
The full ordinance is published in this issue of the Newberry News.
