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A city in debt: A look at Valdosta’s GEFA loans

Special to SEGAZINE

The City of Valdosta currently has seven loans from the Georgia Environmental Facilities Authority, with an eighth loan already approved.

According to Mark Barber, assistant city manager and finance department head, the city paid off the oldest loan in the two weeks the Times has been requesting information about the loans. According to the city’s records, the $1 million loan matured at 20 years, in 2009, but a balance of $34,984 was still outstanding at the end of the last fiscal year.

Barber said there were no penalties assessed for not paying the note off in the time it was due.

Valdosta Daily Times.

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.. on April 2, 2013. Filed under BREAKING NEWS. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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