Two Sevier County communities will spend nearly $3 million for new culinary water systems. Salina officials have approved general obligation water bonds for nearly $2 million, and Monroe's project will cost upward of $1.5 million.
The Salina City Council authorized bonding that would bear an interest rate not to exceed 9 percent per year. The indebtedness could extend over 45 years, the maximum period approved for amortization of the bonds.City Recorder JoAnne Hatchett announced a copy of the council's resolution may be viewed at the city office.
A Hurricane, Washington County, contractor submitted the low bid for the Monroe project, according to Mayor Craig Mathie. The contract was awarded to Interstate Rock, and that project is expected to get under way this month.
Mathie said the city received state and federal grants for $600,000 and is financing $900,000 through revenue bonding. Money was borrowed from the Community Impact Board and the Rural Development and Safe Drinking Water agencies. Interest rates will vary from 21/4 to 41/4 percent.