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City Council discusses financing for new stormwater treatment plant

By Jack Randall
Posted 12/31/69

 GREEN COVE SPRINGS – Festivals, financing and dedicating the name for a new street sign were some of the highlighted topics discussed at the city council meeting on Tuesday, Oct. 3. 

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City Council discusses financing for new stormwater treatment plant


Posted


 GREEN COVE SPRINGS – Festivals, financing and dedicating the name for a new street sign were some of the highlighted topics discussed at the city council meeting on Tuesday, Oct. 3. 
The city council dedicated Saturday to the Soul Food Festival, which will be the 22nd anniversary of the event. The council recognized the cultural importance of the celebration, which promotes unity and instills pride in the community.  
The city just paid off its debts following the completion of the Palmetto Trail Project but is now gearing to issue more for the construction of a new stormwater treatment plant. The volatile interest rate of around 5% forced the council to debate whether a bank loan or bond issuance would be more advantageous for the estimated $8 million project.  
“It’s better to start sooner rather than later with costs increasing,” said Vice Mayor Steven Kelley. 
“We’ve been trying to finance projects that have been kicked down the road for 25 years,” said Assistant City Manager Mike Null.   
The council passed a request for proposal and has decided a bank loan would be better for its immediacy and flexibility to be refinanced.  
In honor of the longest-serving pastor in the history of Clay County, the council approved the name of a new street sign to be “Bishop John Newman Corner.”