MOUNT VERNON — Members of the Clinton Township Water District met Tuesday night to discuss options the district has to remain solvent and provide cheaper services for the residents of Clinton Township.
As they have been in negotiations with the city of Mount Vernon since last July, the CTWD has been seeking options to bring some relief to residents and resolve their current financial deficits, with no positive results to date.
Invited to attend Tuesday’s meeting was Sue Smith Farmer, chief loan officer with the Ohio Water Development Authority, to see if she could provide some suggestions or seek some help with the situation.
Cash reserves for the CTWD have been depleted, and the district is no longer able to meet the demand of the current note and a 40 percent surcharge imposed by the city. The district is required to have a certain amount of funds in reserve in order to pay debt, according to board president John Holland.