Calhoun is preparing to undertake as much as $50 million in water infrastructure improvements through a new financing agreement approved by the City Council.
Council members adopted a Master Bond Resolution establishing the framework for utility-related borrowing and approved a supplemental agreement with Truist Commercial Equity for up to $50 million in Series 2026 Draw-Down Revenue Bonds.
The funding will support the first phase of water system construction, improvements to drinking water treatment capabilities and projects designed to reduce PFAS contamination in the city’s water supply.
The financing carries a tax-exempt variable interest rate capped at 6% and requires the city to maintain a debt service coverage ratio of at least 1.20.
The investment is intended to strengthen Calhoun’s water system while helping the city meet increasingly stringent federal drinking water requirements.
