Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Utility board backs recommendation to use SPLOST funds to pay off interceptor loan
Summary
The board voted to recommend the city use SPLOST 5/6/7 funds to pay off the GPO loan for the East‑West interceptor, a move staff said would save about $359,000 in interest but would reallocate SPLOST balances; commissioners asked for a clearer explanation for the city commission.
The Albany Utility Board voted Oct. 9 to recommend the city pay off the outstanding GPO loan for the East‑West interceptor using a mix of SPLOST funds (SPLOST 5, 6 and 7), a proposal staff said would save roughly $359,000 in future interest.
Staff told the board they contacted GPO and received a payoff figure in the vicinity of $10 million (presentation materials…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
