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Albany utility board recommends city use SPLOST funds to pay off low‑interest GPO loan
Summary
Staff told the board paying off a GPO loan for the East–West interceptor with SPLOST 5, 6 and 7 funds could save roughly $359,000 in interest; the board voted to recommend the city commission consider early payoff and requested more detailed materials before commission action.
The Albany Utility Board on Oct. 9 recommended that the city commission consider using SPLOST funds to pay off a GPO loan taken for the East–West interceptor project, a move staff said would modestly reduce future interest costs while altering how SPLOST balances are allocated.
Finance staff presented an early‑payoff analysis and read a payoff figure…
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