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Albany Utility Board recommends city consider early payoff of GPO loan using SPLOST funds
Summary
The board recommended that the city commission consider using SPLOST 5/6/7 funds to pay off a GPO loan for the East/West interceptor project; staff said the payoff would save about $359,000 in future interest but advised a fuller explanation and formal resolution for the commission.
The Albany Utility Board on Oct. 9 unanimously voted to recommend that the City Commission consider an early payoff of a GPO loan used to finance the East/West interceptor project, proposing to use available SPLOST (Special Purpose Local Option Sales Tax) balances to cover the payoff.
Staff reported a payoff figure provided by GPO (materials list a…
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