WHITMIRE — Whitmire Town Council approved two first reading for ordinances relating to bonds during a special called meeting.
The first ordinance was to amend and restart the bond ordinance for the Town of Whitmire, authorizing and providing for the issuance and sale of waterworks and sewer system revenue bonds for the town.
Mayor Billy Hollingsworth said they were advise to update the ordinance they already had, now that they are getting a USDA loan for their waterworks and sewer project. This ordinance will allow the town to issue bonds, cover loans on that project.
The second ordinance provides for the issuance and sale of all waterworks and sewer system improvement revenue bond in the principal amount, not exceeding, $1,219,000. Hollingsworth said this is a bond ordinance for the same project, but specifically covers the approved loan (a USDA loan).
Hollingsworth added that they have an approximately $400,000 grant they were awarded to go along with the loan money. This loan and grant will be used for improvements to their water and sewer systems.