ATLANTA — A $750,000 state loan will allow Jersey to make big improvements to its water system.
The Georgia Environmental Finance Authority’s board of directors voted to award the loan from the Drinking Water State Revolving Fund.
Officials said the loan will finance installation of a new well, water meters and water mains, and renovate the existing well and the Walton County interconnection the city uses to help meet its normal demands.
The city will pay 1.48% interest on the 20-year loan, which qualifies for a reduced interest rate because a portion of the project is a conservation activity.
The city is eligible for principal forgiveness up to $337,500.