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Bulloch County approves 20-year financing plan for jail expansion
Summary
The Bulloch County Board of Commissioners voted to issue 20-year revenue bonds to fund an expansion of the county jail after hearing financing scenarios and operational briefings on capacity and costs.
Bulloch County commissioners voted to pursue a 20-year revenue bond financing plan for a jail expansion project during their May 20 meeting, approving the financing option after discussion of alternatives, operating impacts and legal constraints.
The vote followed presentations from county legal and financial advisers and a public discussion that included the interim county manager and the correctional institute warden. County Attorney Jeff Akins told the board that the jail project was included on a recent SPLOST referendum and that “by law, you cannot abandon a project that was approved on a splosh referendum.” He added that the intergovernmental agreement contemplated issuance of revenue bonds and that the board could seek voter approval to abandon a project only through a separate referendum process.
The question before the board was whether to issue revenue bonds over 12 years or 20 years. Financial adviser Doug (Davenport) presented a cash-funding analysis showing that paying for the project solely from SPLOST collections would delay construction…
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