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Saturday, November 23, 2024

County commission approves bond issue via WCDA for Alabama Power

By James Phillips, The Community Journal

The Walker County Commission at its regular meeting on Monday, August 8 approved a bond issue for the Walker County Development Authority (WCDA) that in the end will be used by Alabama Power Company to be used for the fly ash remediation at the Plant Gorgas facility. 

“We basically serve as an issuing agency, which is really a conduit for the issuance of bonds, WCDA executive director David Knight said. “It doesn’t create any liability for the development authority or for the county government. .The sole obligore on the bond issue is Alabama Power Company.”

Knight said the final amount for the bond issuance was not known yet. 

A public hearing was held on the issue in July. No one showed up for the hearing. 

Knight said the commission had already approved authorization of the issuance of the bonds. 

“And then there’ll be some sort of final documentation approval that we do at some point, but that may not happen for a while yet,” Knight said. 

Knight added this was the second time the agency has secured a bond issuance for Alabama Power. He said it was previously done more than a decade ago. 

“As a public development organization, the Walker County Development Authority has the ability to issue bond financing for the benefit of private development opportunities,” Knight said. 

James Phillips
James Phillips
James Phillips is a proud native of the Walker County community of Empire. He currently lives in Jasper with Andrea, his wife of 23 years, and his five children, Stone, Breeze, Daisy, Joy, and Zuzu. Phillips has won nearly 200 awards over his 26-year career in media. He has also been a statewide and regional speaker on the social media/digital media within the newspaper industry. Phillips hobbies include spending time with his family and owning Jasper-based New Era Wrestling.

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