The Appomattox Town Council unanimously approved a resolution on Tuesday night to authorize a $2.5 million operating line of credit with the Farmers Bank of Appomattox to help improve the town sewer system.
The resolution was approved after no one moved toward the mic for Tuesday’s public hearing.
The council held a workshop meeting that entailed a public hearing regarding the adoption of a proposed resolution “authorizing the issuance by the Town of an aggregate not-to-exceed $2,500,000 Town of Appomattox, Virginia Promissory Note to the Farmers Bank of Appomattox.”
The proposed resolution would authorize the issuance by the town, “of an aggregate not-to-exceed $3,780,000 Town of Appomattox, Virginia Sewer Revenue Bond, Series, 2017, in one or more services … acting through Rural Utilities Service …”
The proceeds from the interim note and bond would be used by the town in their efforts to “acquire, construct, rehabilitate, and equip various improvements to the Town’s sewer system and facilities related thereto, including but not limited to Trickling Filter Sanitary Sewer Basin Rehabilitation — Phase I — Repairs to the sanitary sewer collection system … and Phase II — The construction of a sanitary sewer pump station and associated force main …”
Interest on the interim note is 2.25 percent per annum for a term up to 12 months.
Once the public hearing closed, Mayor Paul Harvey guided the town council through the resolution that needed to be approved for the town to move forward with the $2.5 million operating line of credit.
The council unanimously approved the resolution to authorize a $2.5 million operating line of credit with the Farmers Bank of Appomattox — including the authorization of the following persons to sign any necessary documents on behalf of the town: Mayor Paul Harvey, Vice-Mayor Timothy Garrett, Town Manager Gary Shanaberger and Town Treasurer Kimberley Ray.
Also reviewed was a resolution to authorize a budget resolution to amend the fiscal year 2019 Operating Budget for the Sewer Fund for the fiscal year 2019 to carry forward of the funding of incomplete projects from the fiscal year 2018. The town council unanimously approved the resolution.
The council also approved a Budget Resolution to amend the fiscal year 2020 Operating Budget for the General Fund, Water Fund and Sewer Fund for the fiscal year 2020 to carry forward of funding of incomplete projects from the fiscal year 2019.
They also approved an amendment to the Appropriations Resolution adopting the fiscal year 2019-2020 budget for the town of Appomattox, regarding the personal property tax relief rate for the fiscal year 2020.
Personal use vehicles valued at $1,000 or less are eligible for 100 percent tax relief; personal use vehicles valued at $1,001 to $20,000 are eligible for 56.25 percent tax relief; personal use vehicles valued at $20,001 or more will only receive 56.25 percent tax relief on the first $20,000 of value. All other vehicles that do not meet the definition of “qualifying” are not eligible for tax relief under this program. Disqualified vehicles would include business use vehicles, farm use vehicles, motor homes and so forth.
In approving the amendment to the Appropriations Resolution, the town was complying with the state code.
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