The Greenwood Metropolitan District is asking county leaders for authorization to issue $10 million worth of bonds to pay for infrastructure improvements expected to spur new private sector development across its service area.
If approved by the County Council, it would be the first time since 2014 that the agency issued bonds, and doing so would have no impact on millage rates for customers, district general manager Jeff Chapman said.
“The need for the projects are based on the condition of the individual components. It considers if the component has the operational capacity for GMD to stay in compliance with state and federal regulations and/or the capacity to ensure adequate room for growth, both industrial and residential,” Chapman said.
Officials plan to spend $2.6 million to refund 2009 bonds, with the additional $7.4 million going toward trunk line and treatment plant enhancements.
“It will allow for continued economic growth in our community,” Chapman said.
A public hearing and vote on the bond authorization is expected at 5:30 p.m. on Sept. 17 at the Greenwood Library.