Politics & Government
Oconee County Industrial Development Authority Agrees To Explore Borrowing For Parkway Boulevard Extension
The Authority agreed to investigate the bond market but only on the condition that the county agree to pay the principal and interest.
The Oconee County Industrial Development Authority Monday voted to explore the issuance of $4.5 million in bonds for construction of Parkway Boulevard Extension to connect the existing roadway in front of Kohl’s department store with the Oconee Connector.
The Authority took the action after Chair Rick Waller said the Board of Commissioners was asking the IDA “to review” the roadway project and consider issuing the bonds.
The Authority agreed to investigate the bond market but only on the condition that the Board of Commissioners, rather than the Authority, agree to pay the principal and interest on the bonds.
The Authority is a constitutional body of the county, with some of its members appointed by the Board of Commissioners and others designated as members by the Authority’s governing legislation.
Bond attorney Jim Woodward told the Authority he would explore the bond market and report back in approximately two weeks on the terms he could secure for sale of the bonds.
For more on this story, go to Oconee County Observations.
Pictured: Authority member Ed Perkins.