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Loudon Council OKs $9.2 million revenue bond tranche to upgrade electrical substations
Loudon City Council · August 26, 2024
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Summary
The council authorized issuance of up to $9.2 million in revenue bonds — the first tranche of a potential $50 million utility bond program — to fund substation upgrades and build a primary substation to support PPG operations in the industrial park; the utility board recommended the action unanimously.
Loudon City Council voted to authorize the issuance of revenue bonds not to exceed $9,200,000 as the first tranche of a larger utility bond program aimed at upgrading electrical substations.
Council member Cardwell explained this is the first issuance of what…
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