The Times West Virginian

November 19, 2009

Financing for water plant in place

Price tag increases to nearly $12.1 million, but no additional hike in rates to be necessary

By J. Miles Layton

FAIRMONT — Though it will cost more to repair the water treatment plant, the money is there to make it happen.

The overall price tag to fix the plant went from about $10.1 million to nearly $12.1 million.

Since the project will cost more, city council approved the first reading of an ordinance last week that would repeal the $10.1 million bond that was previously passed in October.

In a first reading of a new ordinance, council then authorized the issuance of a series of bonds to cover the cost of the $12.1 million corrective action plan to permanently fix the city’s water-treatment plant.

These bonds will provide the financing needed to undertake the corrective action necessary to improve the city’s water system.

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