The state of Georgia today announced approval of $32 million in loans to Oconee and Walton counties to allow them to move forward with construction of the Hard Labor Creek Reservoir in Walton County.
The counties will not be required to make any payments on the larger loan of $20 million until it comes due in 40 years. No interest will be charged against the loan during construction of the reservoir, and the single balloon payment will be of principal and 1 percent interest.