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Commissioners approve resolution enabling up to $17.3M in tax-exempt bonds for regional health projects
Summary
Bulloch County commissioners unanimously approved a resolution required for tax-exempt status on public finance authority revenue bonds of up to $17.3 million for health system real estate projects; county accepts no liability under presenters' explanation.
The Bulloch County commission voted unanimously to approve a resolution allowing the issuance of public finance authority revenue bonds not to exceed $17,300,000 for health system real estate projects.
County counsel and presenters said the board’s approval is a requirement of federal tax law so the bonds may be offered as tax-exempt; presenters made clear the county would have no responsibility or liability for the bonds. As one attorney summarized, the bonds are publicly issued but privately owned and "the county doesn't have any responsibility for or liability in any way for these bonds." The board approved the resolution without further discussion and the motion carried unanimously.
