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Habersham County approves PNC loan to build animal control facility, pledges SPLOST repayment
Summary
The Habersham County Board of Commissioners unanimously accepted a PNC Bank bid to finance a new animal control facility through a 10‑year tax‑exempt installment sale (not to exceed $6,850,000) and authorized the chairman to execute closing documents; commissioners said repayment is expected from SPLOST/sales‑tax receipts, not the general fund.
Habersham County commissioners voted unanimously March 17 to accept PNC Bank's bid to finance construction of a new county animal control facility and authorized the chairman to sign all closing documents.
Christopher Holt, the county's financial adviser with Davenport, told the board that seven proposals were solicited and that PNC offered the lowest rate at 3.64% for a not‑to‑exceed par amount of $6,850,000 and a 10‑year amortization. "Given PNC's bid at 3.64%, the county was able to realize over $600,000 in reduced interest repayment compared with our…
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