Posted: Thursday, August 9th 2012 at 10:41pm
Demorest proceeding with $3.3-M loan application
By Rob Moore Editor
Shown, seated from left, are Demorest Mayor Malcolm Hunnicutt and Councilman Donnie Bennett; standing are Councilman John Popham, Councilwoman Florence Wikle, and Councilman Jerry Harkness.
DEMOREST – The Demorest City Council on Tuesday adopted a resolution to seek a $3.3-million loan.
The funding, through the Georgia Environmental Finance Authority (formerly Georgia Environmental Facilities Authority) is for the purposes of water line replacements, replacement of older water meters with meters that can be read by a drive-by system, and the renovation of the city’s water tank at Dick’s Hill Parkway in Mt. Airy.
The terms of the loan are at 1.63-percent interest over 20 years, Demorest spokesman Sammy Smith said.
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