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Habersham County commissioners approve $6.85 million bond-type financing for new animal control facility

The Board of Commissioners voted to borrow up to $6.85 million through an installment sale agreement with PNC Bank to pay for a new animal control facility.

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March 17, 2025: Awarding bid for financing of new Animal Control Facility through tax-exempt installment sale agreement (Series 2025) to PNC Bank

At a glance

What this means now

Where it stands

Later in the same March 17 meeting, commissioners voted 3-0 to approve Resolution #2025-03-002 authorizing the Chairman to execute all documents related to the financing, and separately voted 3-0 to award the bid for the financing of the acquisition, construction and installation of the new animal control facility through the Series 2025 tax-exempt installment sale agreement to PNC Bank.

The story

In December 2024, the Habersham County Board of Commissioners approved an intent resolution authorizing county staff, the county's financial advisor and legal counsel to proceed with installment sale financing of up to $6,850,000 for the Animal Control Facility project.

Sources21 Executive Summary- Award of Animal Control Facility Project Financing RFP to PNC Bank

At a February 2025 planning retreat, the board received a status update on the SPLOST-funded Animal Control Facility project from the county's Capital Projects Manager.

SourcesMeeting4882_9 Minutes for BOC 02.13.25 Planning Retreat.pdfMinutes for BOC 02.13.25 Planning Retreat

On March 17, 2025, the board held a public hearing on financing the facility through a tax-exempt installment sale agreement. The county's financial advisor recommended accepting a 3.64% bid from PNC Bank to finance the project, an interest rate the advisor said amounted to about $600,000 in savings compared to the initial estimate. No vote was taken on the item at that point in the meeting.

SourcesUnapproved Minutes for 03.17.25 BOC MeetingMeeting4828_7 Minutes for 03.17.25 BOC Meeting.pdf21 Executive Summary- Award of Animal Control Facility Project Financing RFP to PNC Bank

Later in the same March 17 meeting, commissioners voted 3-0 to approve Resolution #2025-03-002 authorizing the Chairman to execute all documents related to the financing, and separately voted 3-0 to award the bid for the financing of the acquisition, construction and installation of the new animal control facility through the Series 2025 tax-exempt installment sale agreement to PNC Bank.

SourcesUnapproved Minutes for 03.17.25 BOC MeetingMeeting4828_7 Minutes for 03.17.25 BOC Meeting.pdf

What happened

How this issue got here

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Appeared on agenda
proposed

Awarding bid for financing of new Animal Control Facility through tax-exempt installment sale agreement (Series 2025) to PNC Bank

Consider/Apptove Awarding Bid for the Financing of the Acquisition, Construction and Installation of a New Animal Control Facility Through A Tax-Exempt Installment Sale Agreement (Series 2025) to PNC Bank

Discussed
discussed

Animal Control Facility SPLOST project status

Animal Control Facility Jerty Baggett, Capital Projects Manager

Discussed
discussed

Status update on SPLOST-funded Animal Control Facility project

c. Animal Control Facility Jerry Baggett, Capital Projects Manager

Approved
confirmed

December 2024 Intent Resolution authorizing up to $6,850,000 Installment Sale Financing for the Animal Control Facility

the Board approved an Intent Resolution at theDecember Board Meeting authorizing County Staff, Davenport and Legal Counsel to proceed with anInstallment Sale Financing up to $6,850,000 to fund the Project.

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