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Albany board backs using SPLOST funds to pay off GPO loan, staff says payoff would cut future interest by about $359,000
Summary
Board voted to recommend to the city commission that SPLOST 5/6/7 funds be used for early payoff of a GPO loan tied to the East–West interceptor, with staff reporting a payoff figure around $10.0 million and projected interest savings of roughly $359,000.
The Albany Utility Board on Oct. 9 recommended that the city commission consider using SPLOST revenues to pay off a GPO loan associated with the East–West interceptor project.
Staff told the board they contacted GPO and presented a payoff figure staff reported as roughly $10,000,076 (staff described the figure as the amount provided by GPO and asked that the exact payoff date be…
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