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Dalton holds first reading of $130 million utilities revenue bond to finance new power plant
Summary
Council presented a first reading of a bond ordinance to issue $130 million in combined utilities revenue bonds for a proposed ~57 MW power plant; staff said bonds would be backed by utility revenues and no vote was taken — the ordinance requires a second reading.
City staff presented a first reading on March 16 of Ordinance 26-05 to authorize issuance of City of Dalton combined utilities revenue bond series 2026 in the principal amount of $130,000,000 to fund construction of a new roughly 57-megawatt power plant.
John (staff) described the financing structure: the proposed bonds are revenue bonds that would be pledged against utility…
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