Politics & Government
Oconee Commissioners Opt To Bypass Citizen Vote In Issuing Bonds To Build New Road For Epps Bridge Centre Expansion
To avoid asking the voters to approve the bond sales, the commissioners asked the county's Industrial Development Authority sell the bonds.
The Oconee County Board of Commissioners last week took final action to borrow $4.285 million to build a new road to promote further commercial development in the busy Epps Bridge Road corridor.
In order to avoid asking the voters to approve the bond sales, the commissioners agreed to have the county’s Industrial Development Authority do the actual borrowing.
The county will make the payments on the bonds, raising property taxes if necessary to do so.
The schedule for the bond calls for payments totaling $4,881,579 over the 10-year terms of the bonds.
The interest rate is 2.385 percent.
The new three-lane Parkway Boulevard Extension will run from the Oconee Connector opposite an existing entrance to Epps Bridge Centre to just west of Kohl’s department store and will serve as the entranceway to the proposed Epps Bridge Centre Phase II.
For more on this story, including video of the discussion of the bonds, go to Oconee County Observations.
Pictured: County Attorney Daniel Haygood.