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HCSA seeks out loans to finish work
SoVaNow.com / May 20, 2013
Members of the Halifax County Service Authority on Thursday afternoon heard a proposal by Executive Director Willie Jones to take out $2.1 million in federal loans to cover the cost of the Cowford Road Project and to complete upgrades to the Lasco pump station.
Jones recommended that the USDA Rural Development loan should be for 20 years, rather than a 25-year loan. The term would necessitate annual payments of approximately $138,000, with an interest rate of 2.6 percent rather than 2.8 percent for a 25-year loan — a difference of some $233,000 over the life of the loan.
HCSA board members also approved a contract for $1,178,000 for the T. A. Loving Company of Goldsboro, N.C. to make improvements for the removal of solids at the Leigh Street water treatment plant.
A second contract, this one for $233,100, was awarded for the engineering design on the Cowford Road Project to Wiley Wilson of Lynchburg.
With a monthly billing of 2,458 customers, late notices were sent out in April to 325 delinquent payers. The monthly summary also showed that 35 customer accounts were closed during April while 68 customers had their service cut off.
Board members congratulated Mark Estes on his being named executive director of the Authority and wished retiring director Willie Jones much enjoyment in his upcoming retirement.
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