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GCPS To Issue Revenue Bonds Related to E-SPLOST

Special meeting will be Thursday at GCPS headquarters.

 

has called a special meeting for Thursday (6:15 p.m.) at its headquarters with issuing revenue bonds in mind. The bonds are related to last year's passing of the E-SPLOST by county voters.

According to GCPS spokesperson Sloan Roach, the bond issues are in two categories:

  • $275 million in SPLOST bonds (to be paid back with sales tax
    proceeds) 
  • $35.8 million to refund (refinance) existing bonds.  The
    refunding will save between $1.4 - $1.5 million interest costs over the
    next three years.

Voters overwhelming OKed a 1-cent sales tax in November that will run from July 2012 through June 2017. The  are expected to bring in an anticipated $876 million, according the GCPS. The projects tapped for SPLOST funds include five new schools, air conditioning for gyms and technology upgrades.

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