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Board backs recommending SPLOST funds to partially pay off interceptor loan
Summary
The utility board recommended that the city commission use SPLOST 5, 6 and 7 funds (and an identified $615,000 allocation) to partially or fully pay off the GPO loan for the East‑West interceptor, with staff citing approximately $359,000 in interest savings and a payoff figure shown in the meeting attachment.
The Albany Utility Board on Oct. 9 voted to recommend that the city commission consider applying SPLOST funds to pay down a loan used for the East‑West interceptor project.
City finance staff reported an estimated payoff figure documented in the agenda attachment (staff stated a figure in the roughly…
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