Board recommends using SPLOST funds to pay down GPO loan for East–West interceptor
Board discussed and voted to recommend that the city use SPLOST 5, 6 and 7 funds to prepay a GPO loan for the East–West interceptor project, with staff estimating interest savings of about $359,000 and asking for clearer materials before commission action.
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Utility staff presented a proposal to the board to use available SPLOST funds to partially prepay a GPO loan tied to the East–West interceptor project. Staff provided an approximate payoff figure and projected interest savings of about $359,000; they proposed reallocating $615,000 from SPLOST 5 as part of the payment and adjusting subsequent SPLOST requests.
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