Cherokee County schools advance $40M bond issue

A financial consultant has gotten the go-ahead from the Cherokee County School Board to price a planned, $40 million Ed SPLOST bond issue for district capital projects. AJC FILE

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A financial consultant has gotten the go-ahead from the Cherokee County School Board to price a planned, $40 million Ed SPLOST bond issue for district capital projects. AJC FILE

The Cherokee County School Board has authorized its financial consultant to prepare, price and tentatively market up to $40 million in general obligation bonds.

Approved by voters in November, 2016, the bond issue would be for Special Purpose Local Option Sales Tax for Education (Ed SPLOST) projects, according to a School Board agenda report. Citigroup Global Markets is to present its pricing results Jan. 16 for an expected School Board vote.

“Proceeds are to be used for voter-approved capital outlay projects, including but not limited to: Creekview (High School) Agriculture Science Lab, Woodstock Middle School instructional wing, Woodstock High School auxiliary gym, completion of the Mill Creek (Middle School) instructional addition, major repairs/renovations, technology equipment and infrastructure, property acquisition and security upgrades,” the agenda report said.

The proceeds would go into an escrow account at Regions Bank and be used to pay for ongoing capital projects over the next 18 to 24 months. Information: https://bit.ly/2PgGIr5