Carey Village Council Approves Financing For Wastewater Treatment Plant
5/7/19 – 6:48 A.M.
Carey’s village council has decided how they will finance upgrades for a wastewater treatment plant. Members voted 5-1 Monday in favor of a 25-year loan with a .98 percent interest rate. The lone no vote came from Anthony Fletcher. He favored a 20-year payback period to save on interest payments.
Carey will pay around $488,000 every year under the terms of the loan. Village residents pay a half-percent income tax to fund sewer projects. It generates around $712,000 each year and will build a balance of nearly $6 million by the time the sewer project is done.