School Board Approves Sales Of $37.2 Million In Bonds

The Oconee County Board of Education has authorized the sale of $37.2 million in General Obligation Bonds for capital projects approved by voters in the Education Local Option Sales Tax referendum on March 16.

The Board took the action in a special called meeting that followed a budget hearing held by the Board on May 18.

The Oconee County Board of Commissioners finalized the action by approving the resolution at it meeting on Tuesday evening.

Oconee County Schools sold $23.5 million in bonds following passage of the current ELOST in 2016 and has paid off just a little more than half of the debt from those sales.

Saranna Charping, chief financial officer for Oconee County Schools, presented the 79-page bond sale resolution authorizing the sale of the $37.2 million in bonds to the Board at the called meeting on May 18.

Charping said the “blended” rate for the bonds will be 1.22 percent.

According to the minutes of the meeting “The Board asked pertinent questions regarding the Bond Resolution. Ms. Charping answered those questions.”

The entire meeting lasted three minutes.

For more on this story, please go to Oconee County Observations.