Commissioners briefed on SPLOST 27 bond timeline; staff notes both $85M and $75M figures in materials

A county presenter summarized the SPLOST 27 bonding timeline and recommended moving forward with bonds rather than delaying projects until cash is collected. "And in that resolution, there was also an $85,000,000 in bonds, not to exceed 6%," the presenter said, noting that voters approved the renewal and the court validated the election. He told the board that rating calls on Sept. 16 with Standard & Poor's and Moody's upheld Carroll County's ratings (S&P: AA; Moody's: Aa2) and that the preliminary official statement had been printed and mailed.

Staff said the bonds will go to market on Tuesday, with a sale expected around 11 a.m. and a closing targeted for Oct. 20. Separate packet language summarized a proposed resolution authorizing the issuance of "up to $75,000,000 in bonds" and the chair's execution of closing documents; staff said blanks in the attachment would be filled after the market sale. A commissioner who spoke in favor said moving forward allows the public to see projects begin and that bonding can be prudent given inflationary pressure on construction costs.