NOTICE TO THE PUBLIC—LEGAL ADVERTISMENT—ADDITIONAL $85,000,000 of JOINT DEVELOPMENT AUTHORITY BONDS TO BE ISSUED

November 29, 2016

The following notice appeared in EACH of the four counties’ newspapers this past week.  This notice is for the issue of $85,000,000 of additional bonds, issued by JDA for Baxter/Baxalta  and will run for 2 weeks before the hearing. 

The JDA has stated that the additional $85,000,000 of bonds will save Baxter/Baxalta/Shire $22,000,000 in property taxes over a 10 year period.  These tax incentives are given away while the citizens in each county continue to pay more property taxes. 

 

JDA logo

NOTICE TO THE PUBLIC

YOU ARE HEREBY NOTIFIED that on the 7th day of December, 2016, at 9:00 A.M., at the Morgan County Courthouse in the City of Madison, Georgia, the Judge of the Superior Court of Morgan County will hear the case of the STATE OF GEORGIA, Plaintiff, v. JOINT DEVELOPMENT AUTHORITY OF JASPER COUNTY, MORGAN COUNTY, NEWTON COUNTY AND WALTON COUNTY and BAXALTA US INC., Defendants, Civil Action File No. 2016 CA 251, in the Superior Court of Morgan County, the same being a proceeding to confirm and validate an issue of the additional Joint Development Authority of Jasper County, Morgan County, Newton County and Walton County Taxable Industrial development Revenue Bonds (Baxter Healthcare Real Property Project), Series 2012A, and  Joint Development Authority of Jasper County, Morgan County, Newton County and Walton County Taxable Industrial development Revenue Bonds (Baxter Healthcare Equipment Project), Series 2012B (collectively, the “Additional Bonds”), in the aggregate principal amount not to exceed $85,000,000.  

The Bonds will be issued on a parity with the outstanding $1,136,600,000 Joint Development Authority of Jasper County, Morgan County, Newton, and Walton County Taxable Industrial Development Revenue Bonds  ………………..

……for the purpose of financing, in whole or in part, the cost of acquiring, constructing, and installing certain real property, buildings, structures, machinery and equipment in connection with a Project located in Newton County, Georgia and Walton County, Georgia (the “Project”) for Baxalta US Inc., ……

Said Project is currently leased by the Issuer to the Company pursuant to a Lease Agreement, dated as of July 30, 21012, as amended, which Lease Agreement will be further amended by an Amendment to Lease Agreement, to be dated as of the date of its execution and delivery to reflect the issuance of the Additional Bonds.

In said proceeding the Court will also pass upon the validity of said Amendment to Lease Agreement, a Supplemental Indenture of Trust, an Amendment to Guaranty Agreement, an Amendment to Bond Purchase Agreement, an Amendment Tax Valuation Agreements in connection therewith.

THE ISSUER WILL NOT CONDUCT ANY “PERFORMANCE AUDIT” OR “PERFORMANCE REVIEW” WITH RESPECT TO THE EXPENDITURE OF THE PROCEEDS OF THE ADDITIONAL BONDS AS SUCH TERMS ARE DESCRIBED IN SECTION 36-82-100, OCGA.

Any citizen of the State of Georgia residing in said Counties, or any other person residing who has a right to object, may intervene and become a party to this proceeding.

This 17th day of November, 2016.

/s/ Jody M. Moss

Clerk, Superior Court, Morgan County, Georgia

 

NOTE: The entire legal ad is in EACH of the four counties’ newspaper.

 

TWG

Citizens, be informed and stay informed!  Only by being informed, can the citizens understand what is being done and talked about, and then press our officials to make good decisions for everyone in Jasper County.  That is our goal with the Taxdogs blog.

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3 Responses to NOTICE TO THE PUBLIC—LEGAL ADVERTISMENT—ADDITIONAL $85,000,000 of JOINT DEVELOPMENT AUTHORITY BONDS TO BE ISSUED

  1. It sucks to be us says:

    The JDA has stated that the additional $85,000,000 of bonds will save Baxter/Baxalta/Shire $22,000,000 in property taxes over a 10 year period.

    In other words, the 4 counties involved will loose $22 million in property taxes over a 10 year period.

    Ain’t that nice!

    • Fleeced Again says:

      It seems so absurd for JDA to be bragging about saving Shire $22,000,000 in property tax while raising tax rates of Jasper County property owners each year to cover that savings. This really makes me wonder whom Steve Jordan and JDA are really working for.

  2. Samuel Hay says:

    Completely out of control…..waiting for the entire JDA to implode.

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