Morgan City, Louisiana (August 2018) – The City of Morgan City, Louisiana announces the purchase of a citywide Advanced Metering Infrastructure (AMI) system. The project will include radio read water meters, electric meters, gas meters and an innovative software solution. The AMI system is being designed and installed by Aqua Metric Sales. Installation is scheduled to begin in early September with an anticipated completion of February, 2019. The City of Morgan City selected Government Capital Corporation as the financing partner for their purchase.
“The 20 year fixed rate structure provided by GCC allowed the budget flexibility to facilitate the AMI project. The new system will enhance reporting efficiencies for the utility department.” stated Deborah Garber, Finance Director, City of Morgan City.
D.C. Greer, Vice President, Government Capital Corporation stated “The City worked diligently to provide payment parameters ‘up front’ allowing GCC to present a financing structure that best fit their budget. The 20 year fixed interest rate resolved the affordability issue and allowed them to move forward with their project.”
About The City of Morgan City, Louisiana
Morgan City is located in Eastern St. Mary Parish on the banks of the Atchafalaya River. With a population of approximately 13,000, Morgan City hosts the annual Louisiana Shrimp & Petroleum Festival held Labor Day weekends in the city’s historic district. For more information, visit cityofmc.com.
About Government Capital Corporation
Government Capital Corporation is a leading public finance firm providing professional financial services to cities and all local governmental entities. Since its founding in 1992, the company has successfully completed thousands of project financings in Louisiana and across the nation. For more information, visit govcap.com.
# # #
