Pelzer Town Council will meet at town hall offices at 6:30 p.m. tonight (Monday, June 8). On the agenda is a public hearing and second reading on a bond ordinance authorizing the sale and issuance of two bonds, totaling $1.45 million to finance upgrades and improvements to the waterworks and sewer system of the town.
The bonds will allow the construction and conclusion of the second phase of the town’s wastewater system, and bring the total cost, including almost $4 million in grants awarded to the town, to approximately $5.1 million.
The bonds will mature forty years from the date of issuance, and a payment of the interest only will be due after the first year. After that time, principal and interest will be due on a monthly basis, an obligation which calculations by the RDA and bond attorney Margaret McGee indicate will require $2700 each month to satisfy.
Council recently tabled a vote on increasing rates to help make the payments and will address the issue in September.
Persons interested in the annexation referendum election or with questions about it are being invited to attend the meeting. In the case of an overflow crowd, the council meeting will be moved to the Pelzer gym.
View Proposed Pelzer Annexation Area
View Pelzer Annexation Area if Williamston Annexation passes
(Purple Outlined Area and Depot Road will be taken out of the Pelzer Annexation)
