The Trenton City Councils’ Utility Committee heard information Tuesday evening on financing the headworks project at the sewer plant and members reviewed the Trenton Municipal Utilities financial report for April.
The only action item was committee approval on the purchase of two gate valves with TMU crews installing them during the Nestle plant shutdown late next month.
According to Utility Director Ron Urton, financial adviser Charlie Zitnik of DA Davidson reported the sewer project financing proposal has been sent to several banks. Responses are due by Thursday, May 23, 2019. Upon review of that information, the adviser will have a better idea on the interest rate if the city pursues a loan.
If acceptable, Zitnik believes loan documents would be ready to sign with the funds available as of June 17th. City officials have been considering borrowing $3,000,000for the headworks project to go with a last years’ loan on other sewer work at Trenton. Comptroller Rosetta Marsh reported approximately $3,000,000 remains to be paid on the effluent disinfection wastewater project.
Utility committee members discussed the credit given to net metering customers, those with solar energy panels, for the electricity they supply back to the utility. Urton said the TMU staff to have recommendations for a committee meeting on June 18th.
The committee of Larry Crawford, Cathie Smith, and Dave Mlika also held a closed executive session regarding personnel with no action taken.