The city of Barnesville will receive a loan of $879,620 through the Georgia Environmental Facilities Authority to construct a new water distribution line, plus hydrants and valves, according to a GEFA news release.
The new water extension will provide service to an area with limited water access. The city of Barnesville is eligible for a discounted loan rate of 3.31 percent interest rate on the 20-year loan.
The Georgia Fund, which is providing the loan, is a state-funded program administered by GEFA for water, wastewater and solid waste infrastructure projects.
Gov. Sonny Perdue has proposed selling the entire Georgia Fund loan portfolio to plug a hole in the fiscal 2011 budget, although he has also said the program will continue to exist.