{"id":1971,"date":"2011-05-27T16:53:46","date_gmt":"2011-05-27T20:53:46","guid":{"rendered":"http:\/\/www.l-a-k-e.org\/blog\/2011\/05\/lowndes-county-has-to-pay-industrial-authoritys-bond-debts.html"},"modified":"2011-05-27T16:53:46","modified_gmt":"2011-05-27T20:53:46","slug":"lowndes-county-has-to-pay-industrial-authoritys-bond-debts","status":"publish","type":"post","link":"http:\/\/www.l-a-k-e.org\/blog\/2011\/05\/lowndes-county-has-to-pay-industrial-authoritys-bond-debts.html","title":{"rendered":"Lowndes County has to pay Industrial Authority&#8217;s bond debts"},"content":{"rendered":"<a href=\"http:\/\/www.l-a-k-e.org\/govt\/vlcia\/2008-12-01--contract\/\">\n<img decoding=\"async\" style=\"float:right;border:none;\"   src=\"http:\/\/www.l-a-k-e.org\/govt\/vlcia\/2008-12-01--contract\/coversmall.png\"><\/a>\nAccording to the\nIntergovernmental Contract between VLCIA and Lowndes County<\/a>:\n<blockquote>\nWHEREAS, the Authority and the County propose to enter into this Contract,\npursuant to which the Authority will agree, among other things, to issue\nthe Bonds, and the County will agree, among other things, to pay to the\nAuthority amounts sufficient to pay the debt service on the Bonds.\n<\/blockquote>\nSo it seems the Lowndes County Commission committed the county,\nthat is, we the taxpayers, to pay the debt service on\n$15,000,000 in bonds issued by VLCIA.\n<p>\nStill, what did VLCIA want $15 million in bonds for when\nit already gets $3 million a year in its own tax millage?\n<blockquote>\nWHEREAS, the Authority proposes to acquire and develop one or more parcels\nof land located in the County for potential economic development purposes\n(the &#8220;Project&#8221;);\n<\/blockquote>\nTo buy land to trade to new industries as they come in.\nA variation on what\n<a href=\"\/blog\/2011\/03\/history-changes-the-closer-you-get-to-valdosta.html\">\nBrad Lofton got fired for doing in Effingham County.<\/a>\n\n<!--more-->\n<p>\n<a href=\"\/blog\/2011\/04\/whos-for-what-at-the-vlcia.html\">\n<img decoding=\"async\" style=\"float:right;border:none;\"   src=\"http:\/\/farm6.static.flickr.com\/5268\/5637364541_f04d74415d_m.jpg\"><\/a>\nAnd VLCIA has amassed 577 acres of prime real estate around Lowndes County.\nI know this number because their last several board agendas have listed it.\nI have those agendas because I went to their meetings.\nYou still can&#8217;t get their agendas or minutes directly from the VLCIA\nonline, because\n<a href=\"\/blog\/2011\/05\/expand-the-array-publish-the-minutes-private-prison-is-a-bad-idea-john-s-quarterman-vlcia-17-may-201.html\">\nthey&#8217;re still thinking about it.<\/a>\n<p>\nSo where are all these industries, and why is VLCIA still sitting on 577\nacres of land?\n<p>\nWhile we the taxpayers get to pay the debt service on the bonds that\nbought the land.\n<p>\n-jsq\n","protected":false},"excerpt":{"rendered":"According to the Intergovernmental Contract between VLCIA and Lowndes County: WHEREAS, the Authority and the County propose to enter into this Contract, pursuant to which the Authority will agree, among other things, to issue the Bonds, and the County will agree, among other things, to pay to the Authority amounts sufficient to pay the debt 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