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Committee approves three KIA loans totaling about $7.6 million for water projects
Summary
The Capital Projects committee approved three Kentucky Infrastructure Authority loans: East Clark County Water District $841,383; Oldham County Water District $6,129,061; Canonsburg Water District loan increase $619,180 (bringing total to $2,304,263).
Frankfort — The Capital Projects and Bond Oversight Committee unanimously approved three water infrastructure loans presented by the Kentucky Infrastructure Authority (KIA) on April 3.
Sandy Williams, executive director of the Kentucky Infrastructure Authority, described three loans the KIA board approved on April 3. The East Clark County Water District will receive a Fund B loan of $841,383 to upgrade waterlines on Mount Sterling Road and Kentucky 89 (replacing roughly 3,200 linear feet of 6-inch main on Mount Sterling Road, 7,200 linear feet on Kentucky 89, and 750 linear feet on Hilltop Drive). Oldham County Water District will receive a Fund C loan of $6,129,061 to install about 22,300 linear feet of 12-inch main on US 42 West from Kentucky 393 to Kentucky 1694. The Canonsburg Water District requested a $619,180 increase to a prior Fund F loan for Shopes Road waterline replacement (phase 2) due to higher-than-expected bids; that increase brings Canonsburg’s total loan to $2,304,263.
Williams said the East Clark loan is a 20-year loan at 2.25% interest, Oldham is a 20-year loan at 2.75% interest, and Canonsburg remains a 20-year loan at 2.0% interest after the increase. Committee members recorded no objections during the roll call and the committee approved the loans as presented.
