Bond sales proves a hit

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Bond sales proves a hit

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Coweta County's

recent bond sale to expand the county's water system was a huge success.

That's the

assessment from County Administrator Theron Gay, who said the county sold

out $44 million in bonds in just a few days.

Not only did

the county sell out the bond issue quickly, but Coweta residents supported

the efforts by buying more than $500,000 in the bond issue.

Nearly $32

million of the bonds will pay for expansion of the water system, including

the building of the water lines that connect the county to Atlanta's water

source.

The bonds will

also build the B.T. Brown Water Treatment Plant in northern Coweta County

that will provide residents with another water source.

The remaining

$12 million is outstanding bonds that have been refinanced. Gay estimated

the county saved nearly $650,000 in interest costs after having the bond

rating increased to AA.

Construction

is nearly complete on the western line from Atlanta. Gay said the only

item left to do is for the city of Atlanta to set a water meter. He estimates

that water should be flowing from the taps in three weeks, just in time

to provide more water if the county experiences another drought.

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