Crisp Commissioners pass resolution for BOE
CORDELE, Ga. — Crisp County Commissioners approved a bond resolution for the school system in regards to the new middle school which is currently under construction. School Superintendent Cindy Hughes was joined by Bob Evans, regional president of Colony Bank.
Evans served as representative for Colony Bank, South Georgia Bank and Planter’s First Bank which have been engaged by the school system to finance the school that will be located just south of the Crisp County Primary School which was completed in 2014.
The banks will finance the new school through a tax exempt bond resolution. The school system has saved money for the 31-million dollar project from prior E-SPLOST funds. An additional 8-million has come from the state. The system will borrow 15-million over five years from the banks that will be repaid with E-SPLOST one-cent option tax collection. The banks believe the E-SPLOST will be sufficient to pay out the bonds. The state requires the back up taxing authority to pass a resolution in the event the E-SPLOST is not enough the system would be allowed to collect taxes to finish paying for the school.
County Administrator Tom Patton read a portion of the resolution to commissioners, who approved and signed the resolution. The school is scheduled to be complete in June of 2020 and officially open that fall.