Franklin County approves $48 million bond authorization for middle schools project

The Franklin County Board of Commissioners on Jan. 15 approved Resolution 1A‑0119 authorizing the issuance of up to $48,000,000 in general‑obligation school bonds to fund acquisition, site development, construction and equipment for a middle‑schools project. The motion to approve was made by Commissioner Lydia Curtis Johnson, seconded by Commissioner Dale Schultz, and passed by roll‑call vote, 14‑2.

The board first voted by voice to set rules for public comment on the bond measure, including permitting two speakers per district and three minutes per speaker, but ultimately received no public speakers; five county commissioners—Barbara Finney, Johnny Hughes, Chuck Stines, Carolyn Wiseman and Greg King—addressed the measure before the final vote. The resolution directs bond proceeds to pay project costs and may reimburse prior expenditures; it also provides for retirement of an $1.8 million bond anticipation note the county issued in October 2018.

The adopted resolution, included in the meeting packet, contains standard financing provisions: the authority to issue the bonds under Sections 49‑3‑1001 et seq., Tennessee Code Annotated; authorization for the bonds to be sold in one or more series; and provisions for interest payments, optional redemption and the levy of unlimited ad valorem taxes for debt service. The county identified Stephens Inc. as municipal advisor and engaged Bass, Berry & Sims PLC as bond counsel. The packet also included an exhibit estimating principal and interest and a costs‑of‑issuance estimate (listed in the resolution as $135,150) and an underwriting/discount placeholder used for competitive bidding.

What passed: Resolution 1A‑0119 authorizes the county to issue general obligation school bonds in an aggregate principal amount not to exceed $48,000,000 to finance the middle‑schools project, reimburse prior costs, retire a short‑term note and pay issuance costs. The resolution authorizes sale in one or more series, allows for typical optional redemption language and pledges the county’s full faith and credit to pay debt service.

Votes at a glance (actions recorded at the Jan. 15 meeting): • Resolution 1A‑0119 (school bonds, up to $48,000,000) — Motion: Johnson; Second: Schultz; Roll‑call vote: 14 yes, 2 no; outcome: approved. • Resolution 1B‑0119 (budget for Sewanee Airport/pre‑application grants) — Voice vote: 16‑0; approved. • Resolution 1C‑0119 (amend homeland security funding/pre‑application grant) — Voice vote: 16‑0; approved. • Resolution 1D‑0119 (multi‑year lease for County Clerk — Pitney Bowes postage meter) — Voice vote: 16‑0; approved. • Resolution 1E‑0119 (multi‑year lease for Franklin County Board of Education — Konica Minolta copier) — Voice vote: 16‑0; approved.

Procedural note: The resolution packet included detailed draft bond language and exhibits (found in the official minutes and attachments). The county’s resolution text cites the enabling statute (Sections 49‑3‑1001 et seq., Tenn. Code Ann.) and sets out the usual parameters for competitive sale, optional redemption and registration of bonds in book‑entry form (DTC). The adopted motion and the vote are recorded in the official minutes; the board did not take additional public comment before the final roll‑call.