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Council approves $3.6M loan for sewer work

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By Greg Summers

The Lancaster City Council unanimously voted Tuesday to borrow $3.6 million from a state pollution-control fund to pay for one phase of the sewer improvements mandated by the city’s federal consent order.
City Finance Director James Absher said the city will get an additional $1 million from the fund that does not have to be repaid. The interest rate on the loan is 1 percent, he said, and the city will repay the money over 10 years in quarterly payments of about $35,000, beginning when the sewer work is finished in about a year.


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The Lancaster News | circulation@thelancasternews.com | 803-283-1133
PO Box 640; 701 North White St, Lancaster SC 29720
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