Tag Archives: bonds

Videos: Naylor Boat Ramp and Appointments to Public Facilities Authority @ LCC 2017-10-10

By far the most time, almost eight minutes, on 6b. Abandonment of Portions of Old Lake Park Road and Hickory Grove Road SE, the Lowndes County Commissioners spent two weeks ago, involving reference to minutes they approved in that meeting but that still aren’t on the county’s website two weeks later, and resulting in a split vote.

More interesting: the county is finally starting construction on the Naylor Boat Ramp.

By their customary silent “acclamation” they appointed people to the Lowndes County Public Facilities Authority.

Below are Continue reading

Videos: Public Facilities Authority, Health Fair @ LCC 2017-10-09

The longest item was not on the agenda: a Health Fair Update in the County Manager’s Report.

They breezed through everything else including 5 a. Lowndes County Public Facilities Authority Appointment, although the Chairman did have another name to propose.

Below are links to the LAKE video of each item, plus a very few notes, followed by a LAKE video playlist. See also Continue reading

Appointments to Public Facilities Authority @ LCC 2017-10-09

Appointments to the board that floated bonds for the county palace, REZ-2017-10 Laurel Run Homes, and two road abandonments, to be considered this morning at 8:30 AM and voted on Tuesday evening.

What is the Lowndes County Georgia Public Facilities Authority, which issued the bonds 548757BE2 and 548757BG7 “Refunding Judicial Administration Complex”?

According to the county’s website it’s a Continue reading

NYC Schools to use more solar power; how about in sunny southeast?

Solar high schools: not just for Dublin, Georgia anymore. New York City, and Rochester, NY, too! How about solar Lowndes High School? Or the new Valdosta High School? Or since Valdosta has already put solar at its Mud Creek Wastewater Treatment Plant, how about on other city buildings? How about on the county palace? Or in Hahira, Dasher, Remerton, or Lake Park?

Erin Durkin wrote for New York Daily News 29 September 2014, 24 NYC schools getting solar panels in $28M project — and City Hall could be next, Continue reading

Stealth VLCIA real estate meeting last Wednesday @ VLCIA 2014-08-13

Well, the agenda says the Invocation was “For the purpose of discussing real estate”; it doesn’t say what the Executive Session was for.

Maybe they’ve got a customer for one of those empty industrial parks Brad Lofton talked them into building before he left the state.

Maybe they’re going to build some of those spec buildings they and Valdosta Mayor Gayle admire in Vidalia and Douglas.

Maybe they’re still negotiating with Continue reading

Brad Lofton leaving Myrtle Beach, SC

Looks like Horry County, SC stuck to its initial three-year offer, both for Lofton, and for millage to fund his development authority there. There are things the newly-renamed Valdosta-Lowndes Development Authority could do to let sunshine turn Lofton’s local land legacy green.

Jason M. Rodriguez and Amanda Kelley wrote for Myrtle Beach Online yesterday, Brad Lofton leaving Myrtle Beach Regional Economic Development Corporation,

Membership to the EDC increased earlier this year, but revenue from the membership decreased by nearly $60,000, impacting the organization’s marketing services and more.

Loton has had many projects succeed, and met some challenges during his time in Horry County.

Earlier this month Continue reading

Moody’s confirms excellent bond rating for Lowndes County School District

Lowndes Schools’ decrease of $4.1 million in annual bond payments after 2013 is more than the total $3.6 million in bonds Dublin Schools issued to pay for their megawatt of solar power. So Lowndes Schools could float bonds for solar panels at Lowndes High School like Dublin Schools did for Dubin High School. Or on the new Pine Grove Middle School, which already has some energy efficiency features. Either would decrease outgo in the future, thus evening up the financial structural balance and increasing reserve levels. The SPLOST mentioned by Moody’s is the educational ESPLOST, which passed by more than 4 to 1 in March 2011.

Moody’s PR 17 July 2013, Moody’s confirms Lowndes County School District, GA’s Aa3 GO rating,

$34.9 million in GO debt affected

New York, July 17, 2013 — Moody’s Investors Service has confirmed the Aa3 general obligation rating of Lowndes County School District, GA. The Aa3 rating affects $34.9 million in outstanding general obligation bonds. The bonds are secured by the district’s general obligation, unlimited tax pledge but are expected to be paid from proceeds of a one percent Special Purpose Local Option Sales Tax (SPLOST). The district has an additional $10 million in general obligation bonds not rated by Moody’s.

SUMMARY RATING RATIONALE

The confirmation of the Aa3 rating reflects the district’s sizeable and growing tax base, SPLOST support of debt service, modest debt burden, and rapid payout. The rating also incorporates the district’s below average socioeconomic indicators and recent trend of General Fund operating deficits. Excluding a slight 1.7% decline in fiscal year 2011, Lowndes County School District has consistently experienced growth in the $3.87 million tax base, which is expected to continue going forward. The base benefits from the institutional presence offered by Moody Air Force Base, Valdosta State University (A1/stable), and South Georgia Medical Center (A2/stable). The current SPLOST is authorized through September 2017 and should provide sufficient revenues to make debt service payments. In fiscal year 2012, SPLOST revenues were $12.4 million compared to debt service payments of $12.2 million. Following fiscal year 2013’s payment of $12.1 million, the district’s payments will decline to just under $8 million annually. Amortization is rapid with all debt fully matured by fiscal year 2018. The district does not have any plans to issue additional debt.

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Kemper Coal cost overruns at Southern Company Stockholder Meeting @ SO 2013-05-22

SO CEO Tom Fanning used Julia O’Neal’s question about cost overruns to tout the alleged benefits of Kemper Coal, which include selling CO2 to oil companies to pump into the ground to produce more oil. He didn’t mention that oil is then burned to produce more CO2. Can you justify the Kemper Plant on your metrics? --Julia O Neal And that Mississippi lignite coal he said would otherwise stay in the ground? Yes it and its CO2 would stay there if SO would get on with solar instead of coal.

Before her question, he had not said much about that project, mostly this about Major Projects, at 29 minutes and 28 seconds in SO’s own video of the 22 May 2013 Southern Company Stockholder meeting. You’ll have to skip there manually, because of the SO’s video format. SO prohibited “unauthorized” videoing, so we don’t have the usual LAKE video on YouTube.

I always call out Vogtle and Kemper County. Both projects are going to serve our customers for decades to come. We’ve had some challenges with Kemper. We’ll probably talk about those later. But when I think about the value that these projects will bring, I think our customers, and the economy of the southeast, will be benefited for decades. And we’re very excited about the progress we’re making on both of those.

It’s curious he mentioned SO’s flagship coal and nuclear projects without saying coal or nuclear. And if by “progress” he means Continue reading

Harrisburg just keeps getting worse

After Harrisburg, PA defaulted on its incinerator bonds, started selling off pieces of itself, and threatened bankruptcy (twice), now the SEC is suing the city for fraud.

James O’Toole wrote for CNN Money 6 May 2013, SEC sues financially troubled Harrisburg,

The Securities and Exchange Commission has sued the city of Harrisburg for fraud, alleging that officials in the Pennsylvania capital misled the public about the city’s financial condition.

The SEC says the misleading statements came in the city’s 2009 budget report, its annual and mid-year financial statements and a “State of the City” address. The case marks the first time the SEC has charged a municipality with misleading investors in statements made outside of securities documents.

Harrisburg has been mired in

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About that flyer

Sent Wednesday. -jsq

Date: Wed, 06 Feb 2013 19:43:49 -0500

Dear Mr. Pritchard,

Thank you for your message of 1 February.

Yes, the binders of the documents for the closings of the various bonds are the sort of financial instruments I requested in my message of 28 January, and that Chairman Slaughter listed in his letter dated 18 January (that I received 28 January). Monday 11 Feb 2013 after the Work Session will be a good time for me to inspect and copy those binders. I will bring a camera and a photocopier. If that time will not work, please advise me of times that would.

Yes, there are other documents I would like to inspect. Please provide

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