town-of-altavista-council-meeting-minutes-november-12-2024_ef6.pdf
Altavista Approves VRA Loan for Wastewater Project
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Description
Altavista Town Council approved financing through Virginia Resource Authority’s Drinking Water State Revolving Loan Fund for the Wastewater Treatment Plant Solids and Sedimentation Handling Project. The approved loan amount is $672,540 for a 30-year term at rates set below the market average.
Contract Details
Contract Amount
$672,540 loan (30 years at 0.5% below market rate, not less than 1.5%)
Vendor
VIRGINIA RESOURCE AUTHORITY
Agency
Town of Altavista, VA
Contract Type
FINANCIAL_SERVICES
Document Date
November 12, 2024
Contract Term
30 years
Renewal Date
2054-11-12
Renewal Info
30-year term fixed at 0.5% below previous month’s market rate, minimum 1.5%.
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Town of Altavista Town Council Regular Meeting Agenda March 10 2026
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