Stephens Co. Commission Scheduled to Meet Today

Stephens County Commissioners are expected to consider taking another step forward in the process of issuing bonds to forward fund SPLOST VI road projects at their meeting later today.

The Stephens County Commission is meeting today at 5:30 p.m. in the second floor courtroom of the historic Stephens County Courthouse in downtown Toccoa.

On today’s agenda, county commissioners are expected to consider motions to engage with both a bond counsel and a finance counsel for the issuance of SPLOST VI general obligation bonds for road and bridge projects.

Stephens County is considering issuing up to an initial $4.5 million in general obligation bonds that would then be paid back with SPLOST VI revenues as they come.

The money would be used to fund road projects.

County commissioners approved a road prioritization list for SPLOST VI at their meeting two weeks ago.

When Stephens County voters approved SPLOST VI in 2013, the referendum and resolution included a provision allowing the county to borrow up to $8.5 million in bonds to fund SPLOST projects that could then be paid back with SPLOST money as it came in.

However, Stephens County Administrator Phyllis Ayers says SPLOST VI revenue may not come in at a high enough rate to pay back a single $8.5 million bond.

As a result, she has recommended issuing a $4.5 million bond at first, then issuing a separate $4 million bond in a couple of years.

Stephens County Commissioners will start with their work session to discuss the business meeting agenda at 5:30 p.m.

The business meeting will start at the conclusion of the work session.

Today’s county commission meeting is open to the public.