Holly Springs approves revenue bond
A plan to do interim financing of the Ashland Substation upgrade has been changed.
Bill Stone, general manager of the Holly Springs Utility Department, asked the mayor and board of aldermen to move forward on plans to set up a revenue bond to pay for the costs of upgrading the substation. It would accommodate Tennessee Valley Authority’s upgrade of the transmission line that connects the North Holly Springs Substation to Ashland. The substation has to be upgraded in order to receive that power.
When completed in about a year, reliability of the power will be greatly improved.