“There is no question that Gwinnett County’s economic success and quality of life are directly tied to our award-winning public schools. This investment, which will not raise taxes, will allow for improvements and renovations throughout our public school system and ensure a world-class learning environment for students and teachers,” said Norwood Davis, chief financial officer of 12Stone Church and co-chair of the Gwinnett Kids Count campaign, an advocacy group for the bond issue.
According to the organization, bond proceeds will be used systemwide to fund general building renovations and improvements, enhancements to school safety and extensive technology upgrades, as well as the district’s needs for additional classrooms and capital improvements across its 140 schools and support facilities.
For investors, general obligation bonds are considered one of the safest investments, according to the Motley Fool, a financial services company. Although there’s no such thing as a risk-free investment, it’s virtually unheard of for a municipal bond to go into default. That’s because they are backed by an entity that has the ability to raise taxes to repay bondholders, if needed.
Gwinnett County schools lowered the tax cost of its debt service from 2.05 mills in FY 2018 to 1.95 mills in FY 2019.
Gwinnett is the only school district in Georgia and in the Southeastern region of the nation that has attained a “Aaa” bond rating from Moody’s and S&P, according to the school district. Only 24 school districts nationwide have earned this fiscal stamp of approval from both bond rating agencies.