Intermodal Group Opens $ Million Revolving Loan, Construction Update
July 23rd, 2012 by Joe Burgess
At Wednesday’s meeting, board members of the Intermodal Authority agreed to set up a $1,000,000 revolving line of credit, to pay contractors for work already performed (or nearing completion) as governmental grants and funding are being recieved. The loan will be made from local banks in Monticello and Warren, who choose to participate.
It was reported that the treatment plant was nearing completion, and that T&T construction is making progress in the bulk products handling area, but was slowed by recent rain.
Excavation to install water and sewer, lines and pumps should begin this week.
The group was also informed that the rairoad track and “T”s must be installed, before the next round of federal highwayfunding can be appoalied for.
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