$1.576 million project
By David Meade
During a special called meeting Monday, Williamston Town Council unanimously approved a Letter of Conditions for a $1.576 million USDA loan for radio read meters. The project includes purchasing and installing 2415 new meters.
According to USDA representative Debi Greene, the town did not qualify for a grant but did qualify for the low rate loan. The 20 year loan will be at 2.25 percent. Greene explained the repayment terms and conditions for the loan. The town is approved for the federal funding however is not locked into the loan at this time.
According to Greene, the town has a five year period from the signing of the actual loan closing. Greene said the letter obligates the funding from the federal government budget but “You are not obligated to take it.”
If the town does accept the loan, the payment will be $817 per month. The town will also be required to make a $19,300 deposit annually into an account for the project.
Rogers & Callcott Environmental of Greenville will provide engineering services for the project.
Greene said if the project is completed for less than the amount of the loan, the remaining funds could possibly be used for associated expense.
Council also approved second reading on changes to the election ordinance.
One brings the town’s election guidelines into line with state law.
The second authorizes and regulates a general election ordinance which states books open at 10 a.m. on August 10 and close at noon on August 24.
Offices to be voted on this year include the mayor, council Ward 3 and Ward 4. The ordinance requires a petition with five percent of registered voters and a fee of $50 for council and $100 for mayor.