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CPW approves bid for new roof, retires $800,000 loan

STAFF REPORTS
Published on Monday, October 22, 2012

Greer Commission of Public Works is getting a new roof and is retiring a loan eight years ahead of its maturity. “It’s always good to retire a loan,” said Eugene Gibson, Commissioner of the Board of the CPW, at today’s monthly meeting.

Commissioners awarded Cannon Construction its $138,800 bid to re-roof  the CPW operations center from the break room to the end of the facility. Five bids ranged from Cannon’s low to a high of $179,000. “I believe (Cannon) will do a good job,” Gibson said.

Commissioners also voted unanimously, 3-0, to retire a $798,877 water project loan that was scheduled to mature in 2020. The loan, including $4,151 interest, totals $802,151.

CPW reported a September net loss of $212,476 before recording budget revenues from capital contributions. The monthly loss is expected to be $59,196, according to the utility.

All utilities reported a decrease in September: water was down 3.5 percent, electricity -9.3 percent, gas -1.2 percent and sewer -5.6 percent. “It’s not the most favorable report we’ve seen,” Gibson said. “The weather worked against us”

Cash on hand remains high at $20 million or 121.9 days.

Greer is no longer in a drought, Randy Olson, Greer Operations Manager, said. “We’re pretty much back to normal.”

 

 

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