The City of Mountain Home is needing to finish the second phase of a rehabilitation project at the wastewater treatment plant, but the loan from the state they had hoped to get didn’t work out as expected. So, the city plans to issue bonds to pay for the work.
Mayor Hillrey Adams explains what happened with the loan they applied for from the Arkansas Department of Agriculture’s Natural Resources Commission back in February.
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But the Mountain Home mayor says the city was surprised to hear in September they had been approved for the loan.
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Adams says their research shows they can issue bonds and pay an interest rate of four to four and a half percent.
The Mountain Home mayor says they are in the process of hiring a construction manager to work with Garver Engineering to finish the design process.
Adams says there are many parts at the waste water treatment plant that are in need of replacement.
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Adams says they won’t know which route they will go until they get a better idea on the cost of the entire project.
He says the issuance bonds to pay for the project is similar to what they have done with other water and sewer projects in the past.
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