Albany and WG&L investing millions in MEAG money - WALB.com, Albany News, Weather, Sports

Albany and WG&L investing millions in MEAG money

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By Delivrine Registre - bio | email

ALBANY, GA (WALB) - It looks like the city of Albany will invest 30-million dollars in MEAG money it shares with Water Gas and Light. The Long Term Financial Planning Committee voted to recommend that the City of Albany's finance department manage the money.

They plan to put the money into savings and spend the interest that is made on those millions. City financial planners will look into the best ways to invest that money.

"I want to see us work together to make sure that we do what needs to be done here. We need to take our time and really make sure that we are securing the future of this city. There is no better time to do that," said city commissioner, Dorothy Hubbard. 

They also recommended changing the committee's name to the City of Albany - Water Gas and Light Long Term Financial Planning Committee. The Albany City Commission must approve the recommendations.

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