Friday, June 1, 2001
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Friday, June 1, 2001 |
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Bond sales proves a hit By JOHN
THOMPSON
Coweta County's recent bond sale to expand the county's water system was a huge success. That's the assessment from County Administrator Theron Gay, who said the county sold out $44 million in bonds in just a few days. Not only did the county sell out the bond issue quickly, but Coweta residents supported the efforts by buying more than $500,000 in the bond issue. Nearly $32 million of the bonds will pay for expansion of the water system, including the building of the water lines that connect the county to Atlanta's water source. The bonds will also build the B.T. Brown Water Treatment Plant in northern Coweta County that will provide residents with another water source. The remaining $12 million is outstanding bonds that have been refinanced. Gay estimated the county saved nearly $650,000 in interest costs after having the bond rating increased to AA. Construction is nearly complete on the western line from Atlanta. Gay said the only item left to do is for the city of Atlanta to set a water meter. He estimates that water should be flowing from the taps in three weeks, just in time to provide more water if the county experiences another drought.
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