EAST ELLIJAY, Ga. – Moving to the selling of Gilmer BOE bonds, no public comment has been presented in any recent Board of Education Meetings to oppose or support selling bonds for the series 2020 ESPLOST (Educational Special Purpose Local Option Sales Tax) funds.

Gabe Agan, Senior Vice President of Raymond James Georgia Public Finance, presented the final paperwork at a Called Meeting of the Gilmer County Board of Education on January 9, 2020. The Bond Yield is set at 1.53 percent for “All-inclusive True Interest Cost” with approval for up to $15 million in General Obligation Bonds.

The schedule is moving swiftly as the pricing was set on January 8, 2020. The Delivery Date is set for January 28, 2020. and Gilmer’s first Interest Payment date will be June 1, 2020. This debt will last through the next five years with a final Principal and Interest Payment date set for December 1, 2025.

Gabe Agan, Senior Vice President of Raymond James Georgia Public Finance, presents paperwork to sell bonds for the Series 2020 ESPLOST General Obligation Bonds for Gilmer County’s Board of Education.

According to the paperwork provided by Raymond James Georgia Public Finance, Gilmer is estimated to collect $24,302,765 assuming zero growth and report the school system’s final debt service to total $17,206,450.

This item was approved without contest in the Special Called Meeting for the Gilmer BOE before immediately moving to the Gilmer Board of Commissioners Meeting the same night for approval there. As with the bond sales, should ESPLOST not be enough to pay for the Debt service, the Gilmer Board of Commissioners will be set to impose a tax to cover the payments.