As the saying goes, you have to spend money to make money.
With Syntec and Dixie Color both set to expand in the city of LaFayette, the City Council unanimously approved the purchase of three transformers at $20,500 each.
"They need transformers larger than we stock," City Manager David Hamilton said, explaining the need for the purchase. "We believe we will get the funding back in a year. It will generate more money due to a greater load of electricity."
He said the first transformer, for Syntec, is expected Jan. 18. The city plans to have the Dixie Color transformer by March. The third transformer will be delivered in May.
"We will buy two for the two industries. We need to keep one in stock. We need to very quickly get the industry back in service, so having one in stock is important," said Hamilton.
"We will pay for them out of the electric fund," he added. "We found out about the expansion after the budget passed."
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