NATCHEZ — The Louisiana State Bond Commission approved Thursday the Town of Vidalia to obtain a $3.5-million line of credit.

Craft and other town officials met with the bond commission in Baton Rouge Thursday to make their request for the money.

“It went through with no problem,” Vidalia Mayor Buz Craft said. “(The commission) saw the need and now we are moving forward.”

Craft said the bonds should be closed near the first of September, at which time the town will begin to pay any outstanding invoices remaining on the town’s books.Previously, Craft said the town owed vendors at least $1 million, and that the town continues to determine any other outstanding bills. Invoices to vendors were issued during the previous administration, Craft said.The interest rate for the money borrowed will not exceed 1.5 percent. Craft said the town would have until March 2017 to pay back the funds or renew the line of credit for the remaining balance.

“We will be very good stewards of the loan,” Craft said. “It will be drawn as we need it. If we don’t need it, we will not use it.”

“We are working very hard to get our vendors paid,” Craft said.