by Tom Chillemi –
Middlesex County is going $4.6 million into debt to pay for sewer just at Cooks Corner — and sewer construction in the county has only begun.
The first county funded wastewater collection system, with a pump station, will be at Cooks Corner. Collection systems are planned for Deltaville, Saluda, Hartfield and Topping.
To get the loan, the Middlesex County Board of Supervisors (MCBS) voted 4-1 on Nov. 1 to mortgage the Historic Middlesex County Courthouse, the Woodward Office building and the Kidd Building, which are being used as collateral for a 25-year loan at a rate of 2.95 %.
The annual payment will be $262,000, and the total paid back will be $6.7 million if the loan goes the full 25 years, according to a Davenport and Company LLC report presented to the MCBS. The loan can be repaid early without penalty. Unless the county does otherwise the loan payments will be funded by taxpayers.
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