IDA approves loan for Hwy. 29 North waterlines

Madison County will soon have a network of waterlines along all of its major roadways.

The Madison County Industrial Development and Building Authority adopted a resolution Monday night to accept a loan/grant package to install water lines along Hwy. 29 North from Danielsville to the Franklin County line.

IDA executive director Marvin White said the authority hopes to pick up 75 to 100 water customers along this route. More importantly, he said, this line will connect the county with neighboring Franklin County on two fronts. Madison County is already connected to the city of Royston with the Harrison waterline loop on Hwy. 281.

The $1.5 million Georgia Environmental Finance Authority (GEFA) Drinking Water State Revolving Fund loan/grant package includes a $450,000 “forgivable loan” (grant). The IDA has agreed to repay the $1.05 million balance over 20 years at an interest rate of 2.13 percent.

White said the project should be let out for bids at the end of this month or the first of August, and that he hopes the majority of construction can be finished by the end of the year.

In other business, the authority approved its 2013 mill rate at 0.952 mills, the same as last year, despite a 10 percent projected reduction in tax revenue for next year. The authority will hold a called meeting Sept. 6 at 9:30 a.m. to adopt the 2013 budget.

The 2013 IDA budget calls for $527,032 in revenue, a $47,000 decrease from the 2012 budget. Expenses are projected at $464,450, down from $511,200 for 2012.

The Chamber of Commerce budget remains the same as this year at $62,852.

The water and sewer fund enterprise budget calls for revenues of $4,150,972 and expenses of $4,131,600, up from $4,070,900 in revenue and $4,069,400 in expenses in 2012.