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Council approves first reading of $3.34 million bond ordinance to replace water lines
Summary
On first reading, council approved a supplemental bond ordinance to finance Wellington Mills and East Market Street water‑line replacements through the South Carolina State Drinking Water Revolving Loan Fund; staff said the project cost and repayment come from the water enterprise fund, with estimated annual debt service of $209,007 over 20 years.
Anderson City Council approved on first reading a supplemental bond ordinance authorizing up to $3,343,000 in financing from the South Carolina State Drinking Water Revolving Loan Fund for replacement of water lines in the Wellington Mills and East Market Street areas.
Tamara Lindley and other staff said engineering is complete and a construction contract was awarded on June 23 to LW Incorporated for $3,118,060. Lindley described the state revolving fund program as a low‑interest financing source that builds on prior council action (a March 24 resolution supporting the loan application) and asked council to approve the debt ordinance on first reading to secure the funding.
Staff provided an estimated annual debt service of $209,007 over a 20‑year term and said the water fund — an enterprise account funded by water rates — would cover repayments. Council asked whether the interest rate is locked in; staff stated the rate is fixed for the 20‑year term as presented. Council also noted the program covers areas beyond city limits that receive service from the city and that additional line replacements are planned in other service areas.
Council moved, seconded, and approved the ordinance on first reading with no recorded opposition in the transcript; staff said the first debt service payment is scheduled to begin in October 2026.
