This time next week, the City of Tega Cay will likely be the newest owner of a utility system serving about half of the city’s residents.
Council Thursday, in special session, gave final approval to a plan to buy the system from Illinois-based Utilities, Inc. for $5.8 million.
The total package before council — worth $7.9 million — includes refunding an existing bond with the Tega Cay Utilities Department as the city takes advantage of lower interest rates. City Manager Charlie Funderburk says the package also includes the capitalization of the first year’s worth of interest.
“This is the furthest we’ve ever been in the process,” Funderburk said.
Still outstanding on the punch list: permitting agreements with the S.C. Department of Health and Environmental Control and a water purchase agreement with York County, among other items.
When the city does take control of the aging, leaky system, residents will realize a “noticeable difference,” Funderburk said.
“[Customers] will be dealing with city staff versus private utility staff,” while the city engineer develops a plan to address the system’s frequent overflows.
Customers on the migrated system will pay about $3 more per month to cover additional fees associated with repairs to the system.