by AnnGardner Eubank
KILMARNOCK— Kilmarnock’s wastewater treatment plant (WTP) projects continue to move forward as the town council unanimously approved a resolution to close out interim financing and move forward with the loan being absorbed by the U.S. Department of Agriculture (USDA) during a Monday, November 18, meeting.
According to town manager and public utilities director Susan Cockrell, council adopted a resolution in November 2021 to authorize the issuance of bonds in an aggregate amount not to exceed $6,850,440 for improvements to the wastewater treatment plant.
The resolution states the bonds will be sold to the United States of America, acting through Rural Development, USDA, in accordance with the government’s letter of conditions dated April 7, 2021, to the town.
The bonds issued are in an aggregate principal amount not exceeding $6,611,000, Cockrell said.
Cockrell noted that this resolution is not the closing transaction, but authorizes USDA to absorb the loan, which the town will begin paying back in….
