Seneca City Council Unanimously Approves Resolution Allowing The Oconee Joint Regional Sewer Authority To Issue Special Revenue Bonds

(Seneca, SC)——————–Last night during a work session and special called council meeting, Seneca City Council approved unanimously a resolution which would allow the Oconee Joint Regional Sewer Authority to issue special revenue bonds to pay for capital improvement projects. Scott Moulder, who is the City Administrator, said the Sewer Authority has about $5 million dollars in capital projects that would require a special revenue bond to pay for. The Sewer Authority board has approved the issuance of the special revenue bond, according to Moulder. However, in order to move forward, the by-laws require a resolution for the member cities to approve a resolution that allows the authority to issue the special revenue bonds instead of paying cash for the project with an accumulated fund account, which totals around $13 million dollars. There has been discussion of refunding the member cities money from the accumulated funds that the Sewer Authority has in the account.