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Rocky Mount council hears city utility debt paid off, officials cite local savings
Summary
Councilman Daughtry told the Rocky Mount City Council that the Eastern Municipal Power Agency's remaining debt has been paid off, and he said the move reduces local costs; he cited an estimated $6.5 million system savings and roughly $560,000 monthly benefit to the city's customers.
Councilman Daughtry told the Rocky Mount City Council on a recent meeting that the Eastern Municipal Power Agency’s remaining debt was paid off as of July 1 and that the change reduces costs for member communities.
"We no longer have that debt hanging over Rocky Mount," Daughtry said, and he described the payoff as producing "about $6,500,000 savings a year" and "about $560,000…
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