McEvoy on Financing Water Projects
The Nassau Suffolk Water Commissioners’ Association (NSWCA) provides information through its Educational Speaker Series and was proud to be addressed by former NSWCA President Robert McEvoy who provided an in depth look into financing water projects by issuing bonds. Mr. McEvoy is a former Comptroller, Town of Oyster Bay, and a current Commissioner from the Oyster Bay Water District.
“Commissioner-run water districts are sub-units of towns, but are subject to Section 202-b Town Law.” Mr. McEvoy stated. “There are multiple steps that must be observed in order to finance a project. These steps begin with commissioners as a ‘local agency’ under SEQRA (New York State Environmental Quality Review Act) petitioning the Town Board, scheduling of a public hearing, and eventually, adoption of the Public Interest Order and bond resolution. And larger projects may require preliminary financing for planning and development.”
Left to right: Robert McEvoy, Michael F. Rich III
NSWCA President Michael F. Rich III commented, “We are grateful to Bob McEvoy for a such a detailed presentation about an important subject. Given the current climate on Long Island and in New York State, all Districts should be aware of the policies and procedures that are required to finance water-related projects to ensure compliance with all local, state and federal regulations.”