MOULTRIE —
The project to upgrade the City of Moultrie's wastewater treatment system took another step forward Tuesday as the city council approved two resolutions to fund it.
Council approved a resolution to sell bonds totaling $14.5 million for the project. The bond sale will be handled by Merchant Capital. Trey Monroe of Merchant Capital said the sale should take place within the next week.
Bonds will be sold at about 3.9 percent interest, City Manager Mike Scott said.
Repayment of the bonds will come from general fund revenues, from the city's portion of the Special Purpose Local Option Sales Tax recently approved by voters, and from revenues of at least one future SPLOST, assuming voters approve it.
The council also approved a $6.1 million loan from the Georgia Environmental Finance Authority to go toward the project. City leadership learned in January that the city would get the loan, but Tuesday’s action marked its acceptance.
Also at Tuesday's meeting, the city council:
• Approved a request from SSK Meats (Stripling’s Sausage) to borrow $100,000 from the city's Revolving Loan Fund. The butcher, located at 1406 West Blvd., plans to purchase assets, livestock and equipment to expand its production of sausage and beef jerky. The project is expected to create 10 jobs, according to Human Resources Director Dale Williams, and more than half are expected to go to low- or moderate-income people.
• Heard a report from Williams about the state of the Revolving Loan Fund, which has $335,478 on hand, plus about $693,000 in outstanding loans. There are 15 outstanding loans, he said, which created or retained 276 jobs.
• Tabled a business license request from Carlos Williams, who plans to open CJ's Pool Hall, 1010 W. Central Ave. Williams was not at the meeting.
• Approved a state Department of Transportation project to resurface Fourth Avenue Northeast from Second Street to the end of the curbing and gutter, about 0.59 miles. Callers to The Observer’s Rant and Rave have complained about railroad tracks that cross Fourth Avenue within that area. Scott said the city cannot work on the privately-owned railroad tracks, but they plan to contact the railroad company in hopes the railroad will improve those crossings before or during the city’s resurfacing project.
• Approved the annual contract with the Archway Project, an agreement between the city, Colquitt County, the county Board of Education, Colquitt Regional Medical Center and the University of Georgia's College of Public Health.
Government
Related Photos
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The city’s wastewater treatment plant on West Boulevard is preparing for Phase II of a renovation project. This phase will cost an estimated $20 million and will be funded by $14.5 million in bonds and a $6.1 million loan from the Georgia Environmental Finance Authority. Kevin C. Hall
Discussion
City to issue bonds for wastewater project
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