•March 30, 2022•
by Crystal Reed
NP Writer

The Sullivan City Council held a special meeting Tuesday, March 22. During which they approved issuing bonds for the water plant project. Commissioner Doug Booker was absent.
A motion was made to accept ordinance 22-5 combined waterworks and sewerage system revenue bonds Series A and B. Treasurer Sarah Golden explained that Series A is for $8.5 million and Series B $2 million. The city is issuing the bond, and rural development will be the purchaser.
The bonds have a 40-year term, and if they close by the end of the month, the rate locks in at 1.25%. There is an additional request for another million dollars which will require the issuance of Series C bond. They are hoping that can be locked in at 1.25% as well.     Login or Subscribe to read the rest of this story.