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Bulloch County Authority adopts $60 million bond to finance new jail
Summary
The Bulloch County Authority voted to adopt a $60 million bond resolution to finance construction of a new jail; interest will be market-determined and repayment is tied to an intergovernmental agreement with the county.
The Bulloch County Authority voted to adopt a $60,000,000 bond resolution to finance construction of a new jail, authority members said.
Authority staff member George Rountree presented the proposal and said the measure would finance the project “in the amount of $60,000,000, interest be determined by the market.” He added that the bonds “will be repaid by a entering into an end government agreement with the county, to purchase the jail once it's constructed.”
The authority moved and seconded the resolution and members voted to approve the motion. The record shows the chair moved to approve and another member seconded; no roll-call tally was provided in the meeting transcript. There was no extended public discussion recorded on the item during the meeting.
At the start of the session, the authority also approved amendments from the Dec. 3, 2024, agenda; that procedural approval preceded the new-business vote on the bond resolution. The meeting adjourned shortly after the bond item was approved.
Next steps for the bond issue were not discussed in detail on the record; the resolution as described links final repayment to a separate intergovernmental agreement with the county and to market-set interest rates.
