Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Tass Water Plant topic
No spam. Unsubscribe anytime.
Tellico Area Services asks commission to allow bond financing for a new 10 MGD water plant
Summary
Tellico Area Services Superintendent Mark Clinton asked the commission to approve a resolution authorizing TASS to pursue roughly $20.5 million in bond market financing as part of a 27–30 million dollar project to build a 10 million gallon-per-day water treatment plant on the Lenoir campus; the measure will appear on the commission’s April 6 agenda for formal action.
Mark Clinton, superintendent of Tellico Area Services (TASS), told the Loudon County Commission workshop that TASS is seeking permission to go to the bond market as part of financing for a new water treatment plant on the Lenoir campus.
Clinton said the initial borrowing request will be for $20.5 million and that the total project is estimated at between $27 million and $30 million. He said TASS hopes to secure a $5 million Economic Development Administration (EDA) grant and to contribute some operating funds toward the project. The facility is planned as a 10 million gallon-per-day treatment plant, with design allowances to expand to 15 MGD by adding equipment.
"We're going to be building a 10 million gallon per day water treatment facility," Clinton said, describing the technology upgrades and the goal of meeting projected peak-season demand. Clinton said the existing plant produces about 7 MGD and that peak irrigation season has pushed production close to capacity.
Clinton said the system serves about 6,000 residential customers and several large customers that together use most production; he said the bond authorization would improve TASS’s financial position when it later issues debt. Staff and commissioners clarified that the commission cannot vote on the financing authorization that night and that the resolution will appear on the April 6 agenda for formal approval.
No vote was taken at the workshop; staff said Clinton’s resolution would be placed on the April 6 meeting for action and that TASS would return with details required for bonding.
