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Service Authority board authorizes $4.0M short‑term financing for Dahlgren wastewater work
Summary
The King George County Service Authority voted to authorize financial staff to complete paperwork for a roughly $4.0 million financing package (5‑year fixed rate, prepayable) to address urgent repairs at the Dahlgren Wastewater Treatment Plant; board debate focused on using cash reserves versus borrowing.
The King George County Service Authority board on July 15 authorized staff to pursue short‑term financing of approximately $4.0 million to address urgent capital and compliance needs at the Dahlgren Wastewater Treatment Plant.
Davenport financial advisor David Rose told the board the best bid was a five‑year fixed‑rate loan at about 3.7 percent that is prepayable without penalty. Rose said the structure is…
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