Oak Ridge council approves capital outlay note and routine electric fund payments
In a brief special session June 18, the Oak Ridge City Council approved a capital outlay note expected at roughly $4.03 million to support electric projects and authorized customary tax-equivalence payments from the electric fund to Anderson and Rome Counties.
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The Oak Ridge City Council approved a resolution authorizing the issuance of a capital outlay note that staff estimated at about $4,030,000 (the resolution cited a not-to-exceed figure of $4,050,000) to finance electric projects, and in a separate vote authorized tax-equivalence payments from the electric fund to Anderson and Rome Counties.
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