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Utility board backs using SPLOST funds to pay off East–West interceptor loan, asks for more detail for commission
Albany Utility Board
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Summary
The board recommended the city use remaining SPLOST 5/6/7 funds to pay off a roughly $10 million GPO loan for the East–West interceptor, estimating about $359,000 in interest savings and asking staff for a detailed memo for the city commission.
The Albany Utility Board voted Oct. 9 to recommend that the city commission consider using remaining SPLOST sales‑tax funds to pay off a GPO loan taken for the East–West interceptor project. Staff said the payoff would reduce future interest expense by approximately $359,000. The amount staff cited in discussion was about…
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