Water Authority Receives Release Agreement From GEFA Regarding Sells Lane Property
By REBECCA HAZEN
The Dade County Water and Sewer Authority received an Assignment, Assumption, and Release Agreement from Georgia Environmental Finance Authority (GEFA), regarding the Sells Lane property, which was intended to become a water reservoir.
The Water Authority needs to sign the agreement, and then transfer the documents to Dade County. The County will then sign the agreement, and then mail the copies of the agreement and the original promissory note to GEFA.
The promissory note says, “The unpaid principal balance of this Note shall bear interest at a rate per annum equal to 2.13 percent… Accrued interest on this note shall be payable monthly on the first day of each calendar month until the first day of the calendar month following execution of the Assignment, Assumption and Release Agreement. Principal of and interest on this Note shall be payable in 137 consecutive monthly installments.”
The note also says that the unpaid balance of the property is $333,890.17.
Water Authority Chair Eddie Cantrell noted that he asked authority board member Allen Townsend to look over the documents, because Townsend used to be an attorney.
Townsend noted some spelling mistakes, and some spots where the word “assignor” should be changed to “lender” and “assignee” but other than that, he thought the document was in working order. The changes will be initialed by Cantrell.
Also, during the meeting General Manager Sherri Walker said that repairs need to be made to the Vulcan Road line, which is eroding in spots near an Atlanta Gas cathodic protection system rectifier.
Walker noted that the Water and Sewer Authority has purchased 200 feet of C-900 high pressure polyvinyl chloride pipe to replace the section that is directly across from the rectifier. C-900 pipe is not conductive and will prevent the stray direct current from eroding the reminder of the existing pipe.
“The gas company would have to move it, or we would have had to reroute our pipe. This is the easiest way, to put a nonconductive material in there,” Walker said.
Walker also gave an update on the ongoing USDA projects. Three of the projects are now completed. The meter replacement program is currently in progress, with a shipment of over 3,000 meters expected in October. The Sand Mountain pump station upgrades are in progress. The upgrades are approximately 96 percent complete, awaiting a delivery of surge valve and fittings.
Elizabeth Zeller presented the financial report. The total income for the month of April was $319,740.25, and the total expenses were $324,540.76. Zeller noted that there was a loss for the month because there was an extra payroll, and there were vehicle repairs. There were 6,528 payments processed during the month, and 233 work orders processed. There were 135 line locates, 11 water main leaks repaired, and 10 taps installed.
The Authority went into executive session to amend a consultant agreement with Butler Partners, LCC. Butler Partners will help the authority with writing grants.
The next Water and Sewer Authority meeting is June 28.