GCPS To Issue Revenue Bonds Related to E-SPLOST
Special meeting will be Thursday in Suwanee.
The Gwinnett school board has called a special meeting for Thursday (6:15 p.m.) at its Suwanee headquarters with issuing revenue bonds in mind. The bonds are related to last year's passing of the E-SPLOST by county voters.
According to GCPS spokesperson Sloan Roach, the bond issues are in two categories:
- $275 million in SPLOST bonds (to be paid back with sales tax
- $35.8 million to refund (refinance) existing bonds. The
refunding will save between $1.4 - $1.5 million interest costs over the
next three years.
Voters overwhelmingly OKed a 1-cent sales tax in November that will run from July 2012 through June 2017. The SPLOST funds are expected to bring in an anticipated $876 million, according the GCPS. The projects tapped for SPLOST funds include five new schools, air conditioning for gyms and technology upgrades.