{"id":17470,"date":"2016-10-06T09:56:38","date_gmt":"2016-10-06T13:56:38","guid":{"rendered":"http:\/\/www.l-a-k-e.org\/blog\/?p=17470"},"modified":"2016-10-06T09:56:38","modified_gmt":"2016-10-06T13:56:38","slug":"public-hearing-at-private-law-firm-for-vsu-bond-to-private-llc-2016-10-21","status":"publish","type":"post","link":"http:\/\/www.l-a-k-e.org\/blog\/2016\/10\/public-hearing-at-private-law-firm-for-vsu-bond-to-private-llc-2016-10-21.html","title":{"rendered":"Public Hearing at private law firm for VSU bond to private LLC 2016-10-21"},"content":{"rendered":"

\r\nWhy is a public hearing for VSU bonds being held at a private law firm?\r\n\r\n\"Part<\/a>\r\nIs there no parking at VSU for the public to hear about this\r\n$58,805,000 bond issue?\r\nThere is free parking at the county palace for which we the people footed around $51 million in bonds.\r\n

\r\nFor that matter, why are bonds for a public university being held by a private LLC?\r\nWhy are they being issued to that private LLC by the shadowy\r\n\r\nSouth Regional Joint Development Authority<\/a>,\r\nto which the Lowndes County Commission\r\n\r\njust appointed Commissioner Clay Griner this May<\/a>,\r\neven though County Manager Joe Pritchard couldn’t tell Griner when that Authority meets?\r\n

\r\nCan’t the Lowndes County Commission provide this bond Public Hearing\r\nwith a public place to meet?\r\n

\r\nIn the Valdosta Daily Times yesterday, October 5th 2016, and not online anywhere I can find it, was this Public Notice.\r\nGretchen scanned it, and I OCRed it and formatted the lists to make it more legible.\r\n\r\n\r\n\r\n

\r\n

\r\nMiscellaneous Notices\r\n

\r\nNOTICE OF PUBLIC HEARING\r\n
\r\nON PROPOSED REFUNDING\r\n
\r\nREVENUE BOND FINANCING\r\n
\r\nBY THE\r\n
\r\nSOUTH REGIONAL JOINT\r\n
\r\nDEVELOPMENT AUTHORITY\r\n
\r\nFOR THE BENEFIT OF\r\n
\r\nVSU AUXILIARY SERVICES\r\n
\r\nREAL ESTATE PARKING\r\n
\r\n& HEALTH, LLC\r\n<\/p>\r\n

\r\nYOU ARE HEREBY NOTIFIED\r\nthat on the 21st day of October\r\n2016 at 10:00 a.m., at the offices\r\nof Coleman Talley LLP, 910\r\nNorth Patterson Street, Valdosta,\r\nGeorgia 31602, the South Regional Joint Development Authority (the issuer) will hold a public\r\nhearing with respect to thep issuance by the Issuer of up to\r\n$56,000,000 in aggregate principal amount of its refunding revenue bonds (the Series 2016A\r\nBonds), the proceeds of which\r\nare to be used to\r\n

    \r\n
  1. \r\nrefund all of\r\nthe outstanding South Regional\r\nJoint Development Authority Revenue Bonds (Valdosta State University Parking and Health Center Project) Series 2007, in the\r\noriginal aggregate principal\r\namount of up to $58,805,000 (the\r\nSeries 2007 Bonds) and\r\n
  2. \r\npay\r\nthe costs of issuing the Series\r\n2016A Bonds.\r\n<\/ol>\r\n

    \r\nThe proceeds of\r\nthe Series 2007 Bonds were\r\nused, among other things, to\r\n

      \r\n
    1. \r\nfinance or reimburse, in whole\r\nor in part, the cost of the acquisition, construction and improvement of certain land, buildings\r\nand personal property used as\r\n
        \r\n
      1. \r\na parking deck containing approximately 1,181 parking\r\nspaces, office space containing\r\napproximately 10,758 square feet\r\nand site amenities located at\r\n1308 Sustella Avenue,\r\n
      2. \r\na parking deck containing approximately 922 parking spaces, office\r\nspace containing approximately\r\n27,271 square feet and site\r\namenities located at 1410 North\r\nOak Street and\r\n
      3. \r\na health center containing approximately\r\n27,240 square feet and site\r\namenities located at 200 Georgia Avenue, all on the campus of\r\nValdosta State University (the\r\nUniversity) in the City of Valdosta, Georgia (collectively, the\r\nProject),\r\n<\/ol>\r\n
      4. \r\npay capitalized interest on the Series 2007 Bonds,\r\n
      5. \r\npay the premium for a debt\r\nservice reserve surety bond and\r\n
      6. \r\npay the costs of issuing the\r\nSeries 2007 bonds, including a premium for a municipal bond insurance policy.\r\n<\/ol>\r\n

        \r\n\r\n\"Part<\/a>\r\nProceeds of the\r\nSeries 2016A Bonds will be\r\nloaned to and used by VSU Auxiliary Services Real Estate Parking & Health, LLC. a Georgia limited liability company (the Company), the sole member of which\r\nis VSU Auxiliary Services Real\r\nEstate Foundation. Inc., a Georgia nonprofit corporation, to refund the Series 2007 Bonds. The\r\nCompany owns and operates the\r\nProject for use by the Board of\r\nRegents of the University System of Georgia for the benefit of\r\nthe University.\r\n

        \r\nThe Series 2016A Bonds will not\r\nconstitute an indebtedness or obligation of the State of Georgia or ‘\r\nof any county, municipal corporation or political subdivision thereof, but will be payable solely from\r\nrevenues derived from the Company and pledged to the payment thereof.\r\n

        \r\nAny person interested in the proposed issuance of the Series\r\n2016A Bonds to refund the Series 2007 Bond: and refinance the Project may appear and\r\nbe heard.\r\n

        \r\nSOUTH REGlONAL JOINT DEVELOPMENT AUTHORITY\r\n

        \r\n00107083\r\n
        \r\n10\/5\/16\r\n<\/p>\r\n<\/blockquote>\r\n

        \r\n -jsq\r\n<\/p>\r\n

        Investigative reporting costs money, for open records requests, copying, web hosting, gasoline, and cameras, and with sufficient funds we can pay students to do further research. You can donate to LAKE today<\/a>!<\/blockquote>","protected":false},"excerpt":{"rendered":"Why is a public hearing for VSU bonds being held at a private law firm? Is there no parking at VSU for the public to hear about this $58,805,000 bond issue? There is free parking at the county palace for which we the people footed around $51 million in bonds. For that matter, why are […]","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_links_to":"","_links_to_target":""},"categories":[14,15,70,20,88,134],"tags":[275,7509,9452,8704,8705,8728,8701,136,8702,8710,12,7,8734,2878,9024,9450,472,6,1175,8743,9449,9451],"class_list":["post-17470","post","type-post","status-publish","format-standard","hentry","category-economy","category-education","category-ethics","category-law","category-lowndes-county-commission","category-vsu","tag-bond","tag-clay-griner","tag-coleman-talley-llp","tag-economy","tag-education","tag-ethics","tag-georgia","tag-joe-pritchard","tag-lake","tag-law","tag-lowndes-area-knowledge-exchange","tag-lowndes-county","tag-lowndes-county-commission","tag-parking","tag-patterson-street","tag-real-estate-parking-health-llc","tag-south-regional-joint-development-authority","tag-valdosta","tag-valdosta-state-university","tag-vsu","tag-vsu-auxiliary-services","tag-vsu-auxiliary-services-real-estate-parking-health-llc"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p585fK-4xM","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts\/17470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/comments?post=17470"}],"version-history":[{"count":4,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts\/17470\/revisions"}],"predecessor-version":[{"id":17474,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/posts\/17470\/revisions\/17474"}],"wp:attachment":[{"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/media?parent=17470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/categories?post=17470"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.l-a-k-e.org\/blog\/wp-json\/wp\/v2\/tags?post=17470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}