A public hearing has been scheduled by the Winamac Town Board in regards to a water rate increase to help cover the cost of a water project. The board had previously prepared a rate ordinance to be considered for the use of and service rendered by the waterworks of the town.
The board held the first reading of the ordinance, which passed with four board members in favor and one opposed. The board scheduled the public hearing for the ordinance to be held on Feb. 11 at 7 p.m.
A representative from Indianapolis attorneys Ice Miller, LLP – the company employed as the town’s bond counsel – told the board that the company had prepared a bond ordinance to be considered by the board to finance the construction of additions and improvements to the town’s waterworks, as well as the refunding of its outstanding Waterworks Revenue Bonds from 2004 in order to achieve a savings.
The board approved the ordinance on its first reading before the council approved a motion to suspend the rules and approve the ordinance on its second and final readings. The motion passed unanimously.