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Council accepts nearly $10 million DWI loan to finish water treatment plant rehab
Summary
Washington accepted an amended North Carolina Division of Water Infrastructure loan totaling $9,968,910 at 1.76% interest to complete the Water Treatment Plant Rehabilitation Project and approved the related budget and grant project ordinance amendment.
Council voted unanimously to accept an amended funding offer from the North Carolina Division of Water Infrastructure that increases the loan for the Water Treatment Plant Rehabilitation Project by $3,814,910, bringing the total loan amount to $9,968,910 at 1.76% interest. The motion included approval of the associated budget and grant project ordinance amendment.
City staff discussed financing options, noting potential contributions from Beaufort County and recovering lost water revenue caused by malfunctioning meters as sources to cover the project costs. The project scope and previous tentative resolution to award construction were reviewed; State Utility Contractors had been identified in prior action to receive the construction award.
Councilmember Max Perreault made the motion to accept the amended funding offer and approve the ordinance amendment; Councilmember Anthony Tyre seconded. The motion carried with all voting members present recorded as approving the action.
