PFA O.K.s $7 Million Bond for Jail Project
The Jasper County Public Facilities Authority (PFA) voted unanimously to issue bonds to generate revenues in the amount of $7 million for the Jasper County jail renovation and expansion project.
During the called meeting Monday, the four PFA members Don Jernigan, Bill Nash, James Thiele, and Hal Harris received reports from County Manager Mike Benton about the Special Purpose Local Option Sales (SPLOST) funds and impact fees slated to contribute to the project.
The jail project is not to exceed $10 million including construction and furnishings, noted Mr. Nash. Sheriff Donnie Pope, who was also present at the meeting, confirmed that budget maximum. Any overages of the project’s budget will be covered by the county coffers not the bond revenue.
To that end, the county government has pledged $3 million to the project coming from a combination of SPLOST fees of $1.7 million, some $333,000 of impact feEs for the jail/sheriff department, and $1 million from the county’s Stanton Springs monies. The Stanton Springs revenue is a result of Jasper’s partnership in the Four County Industrial Park investment. The funds to pay back the $7 million revenue bond will derive from that revenue stream.
Mr. Benton reported that through April 2022 the 72-month slated SPLOST had collected just more than $5 million in its 48th month. The jail receives approximately 35 percent of those total funds as agreed upon when the SPLOST was put on the ballot.
Minus the $3 million coming from the county, the revenue bonds issued by the PFA will cover the remaining $7 million balance. The PFA was organized in April 2021 in an effort to aid in funding county projects and the jail expansion was first on its list.
Mr. Thiele, who led the meeting, gave citizen’s the opportunity to provide input at the start of the proceedings. Francis Wayne Bales spoke asking why was the expansion of the jail needed.
“When I am out and about in public no one knows about it. I’m curious have y’all thought this through,” said Mr. Bales.
Bond attorney Roger Murray was on hand to walk the authority the next steps of the process. With the PFA approval, the county commission had to next aprrove the revenue bond issuance (they met following the PFA meeting).
The process would then proceed to Superior Court where a judge would approve the bond validation during a hearing which Mr. Murray said was scheduled for June 28. Once the judge approves the bond, the attorney said no one can attest it. The closing is planned for July 6 in Atlanta, he noted. Following the closing, the check would be issued to the county.
Following the bond revenues’ approval, Sheriff Pope said “a tremendous amount of planning has gone into this. There has been a lot of cooperation between the architect and project manager. Thank you for your hard work and consideration,” he said to PFA members.
PFA members also dealt with some administrative business at the called meeting by selecting new officers and changing the meeting schedule. New officers include Mr. Jernigan as chairman, Mr. Thiele as vice chairman, Mr. Nash as secretary, and Mr. Harris as treasurer. The members also changed their regular meetings from every other month to quarterly. Forthcoming meeting dates will be Tuesday, August 2 and Tuesday, November 14 at 6 p.m. in the Commissioner’s Meeting Room.
