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Commissioner reports $9.4 million St. Joe water-meter replacement plan headed to finance committee
Summary
A commissioner reported the City of St. Joe is planning a water-meter replacement project estimated at about $9,400,000; the project is scheduled for finance committee review on Aug. 13 and likely the full board on Aug. 20, with estimated interest of about 3.87%.
A commissioner reported that the City of St. Joe is considering replacing its water meters with a new system that can detect broken lines and leaks. The speaker said the project cost is about $9,400,000 and noted an expected interest rate of about 3.87%; the project will come before the finance committee on Aug. 13 and is likely to appear before the full board on Aug. 20.
The speaker said the investment is expected to generate long-term savings, with a figure of $5,500,000 mentioned as a future savings or debt-service context. The report was presented as a commissioner's update and the item will move through committee for further review and any required board action.
