KENOVA Ƶ The Kenova City Council approved the nomination of Tracey Pabrazinsky to fill the vacant council seat during its Thursday meeting.
Pabrazinsky is a U.S. Air Force veteran and an alumna of Ceredo-Kenova High School who grew up in Kenova and has been back in the city since 2003. She has run for Kenova City Council in the past.
The seat was left vacant by the resignation on June 19 of former council member Terry Parsons, who recently moved to Greenup County, Kentucky, for his family.
The City Council interviewed six candidates for the seat during a special meeting on Monday evening at the Kenova Police Department.
Ƶ the new council member, Pabrazinsky will fill the seat for the remainder of ParsonsƵ unexpired term, which ends June 30, 2027. No other nominations were made for the seat during the meeting.
Pabrazinsky will be officially sworn in at the City Council's meeting next month at 6:30 p.m. Thursday, Aug. 15, in the council chambers in City Hall.
In other business during the meeting, John Stump of the law firm Steptoe & Johnson, which is bond counsel for the Prichard waterline extension project, presented what he said were the final actions necessary for the project.
"The mayor (and City Clerk) Lisa (Palmer) have executed all of the documents that are necessary for the closing, so tonight is the last actions by Kenova that are necessary (to) close the finances," Stump said. "So unless something unforeseen occurs, the money will transfer on (Aug. 8) and construction contracts will be signed at that time. So they should be able to turn dirt pretty quickly."
The city council approved the following items pertaining to the project:
- A proposed supplemental resolution providing the principal amount, date, maturity date, redemption provision, interest rate, interest and principal payment dates, sale price and other terms of the water revenue bonds, Series 2024 A (West Virginia Infrastructure Fund), of the City of Kenova; ratifying and approving a loan agreement relating to such bonds and the sale and delivery of such bonds to the West Virginia Water Development Authority; designating a Registrar, Paying Agent and Depository Bank; approving a bond ordinance; and making other provisions as to the bonds
- A proposed draw resolution for the payment of invoices from the bond
- A proposed sweep resolution pertaining to the automatic payment of the bonds to the Municipal Bond Commission
Stump also spoke at the city council's meeting on June 18 when it approved the bond ordinance and the project ordinance for the project following public comment periods.
Stump said the U.S. Economic Development Administration Appalachian Regional Commission grant funding comes out to more than $3.7 million.
"So the amount being borrowed by the city was originally planned at $1.5 million, and it's been increased to ($1,615,121)," he said. "So the majority of the moneys of the overrun were taken care of through (the) grant process, again, with USEDA and the Appalachian Regional Commission."
He said the loan is at a fixed interest rate of 3% for a term of 20 years, with payments starting March 1, 2025, and ending June 1, 2044. The closing date is Aug. 8, he said.
Discussing the draw resolution, Stump said the total amount the loan is being drawn down out of the proceeds of the bond issue is $117,661.86, which will be wire transferred into the city's account Aug. 8.
Discussing the sweep resolution, Stump said right now the West Virginia Municipal Bond Commission as the lender for the city's 2005 bonds automatically debits its account each month to pull out the principal and interest payments, and the resolution allows the commission to do the same thing for this bond issue.
"The waterline project is moving rather quickly now," said Kenova Mayor Tim Bias later in the meeting. "It's sad that it took it eight years to move at all, but it is moving quickly."
The waterline extension project began in 2015.
According to a legal notice in the May 29 edition of the Wayne County News, the project entails Ƶ(i) installation of approximately 67,025 linear feet of 12-inch, 30 linear feet of 8-inch, 920 linear feet of 6-inch, 70 linear feet of 4-inch and 60 linear feet of 2-inch water mainline; (ii) reconnection of water mainlines to existing service connections and hydrants; and (iii) necessary appurtenances relating thereto.Ƶ