
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, July 3, 1993                   TAG: 9307030172
SECTION: CURRENT                    PAGE: NRV-2   EDITION: NEW RIVER VALLEY 
SOURCE: RICK LINDQUIST STAFF WRITER
DATELINE: DUBLIN                                LENGTH: Short

WASTEWATER-PLANT REFINANCING OK'D

Town Council has approved a resolution to let the Peppers Ferry Regional Wastewater Treatment Authority take advantage of lower interest rates to refinance $10 million in capital debt. The vote at Thursday's special meeting was 6-0.

Town Administrator Gary Elander described the resolution as "a technical matter" related to Internal Revenue Service regulations.

Dublin, Radford, Pulaski, the Pulaski County Sewerage Authority and the Pulaski County and Montgomery County public-service authorities are regional authority participants.

Each locality must consider a resolution agreeing to participate in Peppers Ferry debt to the extent of its wastewater allocation before the authority can refinance the 1986 revenue bonds.

The counties can act on behalf of their wastewater authorities.

Dublin's allocation is 4 percent, or about 280,000 gallons per day.

"This will result in a substantial savings in interest," Elander told council.

Authority member jurisdictions repay authority debt through monthly wastewater treatment charges.

The Peppers Ferry Regional Wastewater Treatment Authority originated with a 1981 agreement among the five localities to share the costs of constructing and operating the 6 million-gallon-a-day plant in Fairlawn.

Radford and Pulaski are the two largest users.

by CNB