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Dalton council approves resolution to pursue up to $130 million in bonds for 57‑MW gas plant
Summary
The Dalton mayor and council voted Jan. 27 to pursue a private placement of up to $130 million in combined utilities revenue bonds to finance a proposed 57‑megawatt natural‑gas electric generation facility on city‑owned land; council heard financing details and asked questions about contingencies, savings and data‑center use.
Dalton’s mayor and council on Jan. 27 approved a resolution authorizing the city to proceed with the proposed issuance of combined utilities revenue bonds to finance a 57‑megawatt natural‑gas electric generation facility on property the city already owns.
Council considered Resolution 26‑04, which seeks authority to offer bonds in a private placement that would be held by Regions Bank and would not be sold on the public bond market. The offering cap described at the meeting was $130,000,000, with up to $30,000,000 of the issue potentially structured as immediately refundable for flexibility during early project stages.
John Thomas, who briefed the council on the proposal, described the financing mechanics and the project scope. He…
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