Utility District Receives Loan For System Upgrades
Monday, February 13, 2012 3:41 am
MURFREESBORO – Officials at the Tennessee Utility Assistance, LLC (TUA) recently announced that the West Warren-Viola Utility District of Warren and Coffee Counties, Tenn., has closed on a $4.5 million loan through the TUA, LLC municipal finance program.
Funding from the loan will be used to upgrade the utility’s system and refinance several of the District’s outstanding obligations at a lower interest rate.
The loan issue received an “A+” rating from Standard & Poor’s, a reflection of the District’s well-managed financial operations. This excellent bond rating is indicative of careful decision-making from the District’s Board of Commissioners and leadership from District management to foresee future needs and make ample preparations.
The District serves more than 5,000 water and sewer customers in Warren, Coffee, Grundy and Cannon counties.