PROPOSED SPLOST DEBT SO LARGE THAT PENNAMON WANTS FINANCIAL ADVISOR

July 30, 2017

Comm. Pennamon suggested getting a financial advisor to help with the proposed $8.3M SPLOST debt.  

The Jasper County BOC has posted a “Called Meeting” for Monday, July 31, 2017 at 6:00PM.  The only item on the agenda is:

Old Business:      2018 SPLOST Planning

Golly!  Haven’t they done 2018 SPLOST planning for 4 months now?  What new and interesting item may they add Monday night?

Could it be the Financial Advisor that Comm. Pennamon suggested??  Start at 1:00 on the video–

Miraculously, this financial advisor had just called the County Manager, Mike Benton, a few days before Pennamon suggested it.  What a coincidence!

After this suggestion by Comm. Pennamon last Monday, Mike Benton said he would call the advisor back and set up a meeting.  Is this what the 7/31/17 meeting is about?  The agenda doesn’t tell us.

So far the BOC has proposed the 2018 SPLOST with $3,900,000 of projected income and $8,280,132 of proposed expenditures, creating a corresponding debt burden of $8,280,132 plus interest.  This debt will supposedly be paid with SPLOST revenues and with Baxter/Shire/Stanton Springs/Four County Development Authority revenues.  (We mention all these names because the BOC has used all these names for the same JDA-Joint Development Authority.)

Comm. Pennamon said he wanted the Financial Advisor to give them advice on how long the loan term should be.  Comm. Henry said that decision should be up to the BOC, not an outside advisor. 

Of course, there was no mention of cost, but if he is used, will the advisor’s fee be based on the amount of the loan?

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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11 Responses to PROPOSED SPLOST DEBT SO LARGE THAT PENNAMON WANTS FINANCIAL ADVISOR

  1. This will benefit who? says:

    Who stands to benefit from hiring a financial advisor? This appears to be set up because Pennamon had to already know about it when he suggested it. Whose friend is this financial advisor?

  2. We need a WHAT? says:

    We need a what? Carl needs a brain!!

  3. Whos educated says:

    So are we getting a loan regardless of the SPLOST vote. If the SPLOST does not pass then we will need a bigger loan. Does this loan have to be voted on by the tax payers or can these Bozos just go get a loan whenever they feel like it. This group of Commissioners doesn’t seem to be very well educated. You would think that they could do what the general population wants and fix the roads

    • taxdogs says:

      No, the loan only happens if the SPLOST vote passes. That’s not to say they won’t consider getting a loan to do the projects if it doesn’t pass, but presently the loan happens if the people vote yes in November on SPLOST.

  4. Don't be fooled says:

    I suspect this adviser is someone from a financial institution who wants to snag an $8.2 million loan.

    A financial adviser studies someone’s finances in detail and then makes recommendation on investment (savings) and spending changes to attain a desired goal.

    I know, government calls spending an investment. It sounds so much better and and is designed to fool some people.

  5. Change The Idiots in Charge says:

    Excuse me, but if this BOC can not figure out on their own how to set priorities and distinguish between what the sheriff, the recreation department, and everyone else who is pigging themselves out at the taxpayers trough really needs, instead of what they want, then we do not need a financial advisor, we need to replace all the BOC ,except Henry, and get board members who know what the hell they are doing!!!!!!!!!!! God help us.

  6. Debt Tired says:

    If the BOC is still in the SPLOST planning stage, then they should throw out the $8.2 million projects. We don’t have the money for it and should not add more term debt to the long-term debt we already have.

    In my opinion, they should start over with projects of $3.9 million that is to be generated by the 6 year SPLOST.

    I want to know what projects I am supporting by allowing the 1% SPLOST to continue.

    We don’t need a gym. We need better roads and reliable ambulance service.

    If the $8.2 million is on the ballot, I will definitely vote NO.

  7. Mumble Me This says:

    We’ll Mumbles, why don’t you just reach out to the guy you’ve never met, but who conveniently calls your office just about the time a multimillion dollar loan is in need of financing?
    You know just like you and perfidious Pennamon planned. By the way,stop lying so much. It just makes your incoherent repetitious speech worse.

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