SMITH UTILITY DISTRICT RECEIVES WATER TANK LOAN

SMITH UTILITY DISTRICT RECEIVES WATER TANK LOAN

A local utility district has received a nearly one million dollar loan to construct a new water storage tank. The Tennessee Department of Environment and Conservation announced Smith Utility District was awarded a $933,000 loan, according to the Tennessee Department of Environment and Conservation.

The project will receive $746,400 in federal funds with an additional $186,600 in principal forgiveness which will not be repaid, according to the department of environment and conservation. The loan has a 20 year replacement period at an interest rate of .79 percent. The district was one of four entities receiving $16.7 million in low interest loans for water and wastewater.

Drinking water loans were presented to Smith Utility District and Ocoee Utility District in Bradley and Polk counties. Clean water loans were presented to Hamilton County Wastewater Treatment Authority and City of Springfield (Robertson County). Smith Utility District is headquartered in South Carthage.

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