Commissioners greenlight 20-year bonds for jail expansion, hope to repay early - Statesboro Herald

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Commissioners greenlight 20-year bonds for jail expansion, hope to repay early

Financial advisors: Pay-go approach could have delayed project’s start by 9-14 years

County Attorney Jeff Akins, foreground, advises Bulloch County commissioners that voter approval of the SPLOST referendum in effect requires them to build a jail addition. Although not in the ballot question, the $60 million bond financing was predicted in the intergovernmental agreement, he noted. - photo by AL HACKLE/Staff

County Attorney Jeff Akins, foreground, advises Bulloch County commissioners that voter approval of the SPLOST referendum in effect requires them to build a jail addition. Although not in the ballot question, the $60 million bond financing was predicted i — County Attorney Jeff Akins, foreground, advises Bulloch County commissioners that voter approval of the SPLOST referendum in effect requires them to build a jail addition. Although not in the ballot question, the $60 million bond financing was predicted in the intergovernmental agreement, he noted. - photo by AL HACKLE/Staff

By a 5-1 vote Tuesday, the Bulloch County Board of Commissioners approved a resolution to borrow $60 million in the form of 20-year, revenue-backed bonds for Phase 1 of the county jail expansion.

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