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Mayor Willis noted that among the financing options is a funding package from the Rural Development Administration of the Department of Agriculture that would provide some level of project financing at terms of 4.5 percent over 40 years. Were the entire estimated system price of. $2.5 M financetHrr that manner, the monthly cost to the Town would be nearly $9,000 plus operating costs that had been estimated last year at $20,000 per year.
It is unlikely though that the Town would have to finance the entire amount because of wastewater capital funds that exist and because of the likelihood of some grants to support the project. Mayor Willis and Council members have been and will continue to investigate and develop plans, and public hearings will be held during this developmental process.
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