Posted: Tuesday, July 15th 2014 at 8:53am
Short-term loan of $400K approved by Oakwood City Council
By Ken Stanford Staff
OAKWOOD - The Oakwood City Council has approved a $400,000 short-term loan to be used to cover expenses.
City Manager Stan Brown confirmed the action Tuesday. The city, which has used up its reserves, expects the loan to be re-paid by the end of the year after tax revenues start coming in.
The council has also voted to name a new road between Mundy Mill Road and Atlanta Highway Milton Martin Toyota Way. The dealership, which is currently located on Browns Bridge Road in Gainesville, has announced plans to re-locate to Oakwood.
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