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Council authorizes up to $16.833M in water bonds for transmission line
Summary
Jonesborough approved initial and full resolutions to authorize up to $16.833 million in revenue and tax bonds to fund a transmission line needed to deliver up to 8 million gpd from the new river water plant to Persimmon Ridge storage.
The council authorized issuance of up to $16.833 million in water system revenue and tax bonds to finance a transmission line for the town's new river water plant. The chair said the new plant will increase production from roughly 3 million gallons per day to about 8 million gpd, but the existing transmission infrastructure cannot reliably move that volume to the Persimmon Ridge storage tank.
The initial resolution and a subsequent full resolution prepared by bond counsel were moved and approved so the town can proceed with borrowing (USDA Rural Development and bond counsel requirements were cited). Council members asked no substantive questions on the floor; Janet confirmed the project is the second phase of the town water plant improvements. The motion passed on roll call as recorded in the transcript.
