Jasper County Board of Commissioners
July 24, 2017
Work Session Minutes
Comm. Pennamon called the work session to order at 6:15 p.m.
Commissioners Present: Chairman, Carl Pennamon, Vice- Chairman, Bruce Henry, Don Jernigan, and Craig Salmon. Doug Luke was absent.
Staff Present: County Manager, Mike Benton, Clerk, Sharon Robinson, and County Attorney, David Ozburn. Also, Recreation Director, Johnathon Green
Mr. Benton noted we need to finalize the projects, the amount to be financed, the length of terms, and the length of amortization. He has several lending institutions working on their interest pricing.
Comm. Pennamon questioned would it be beneficial to the board to get a Financial Advisor.
Mr. Benton noted Tom Owens of Raymond James has offered to come as an advisor or consultant.
Comm. Pennamon noted he feels we should reach out to him, to see how we can structure this and get it done.
Comm. Jernigan felt this was a good idea.
Comm. Pennamon questioned when we need to have the final on the ballot and advertisement.
Mr. Benton noted we have a drop dead date of August 25th from the Probate Judge.
Comm. Pennamon suggested contacting Mr. Owens and see if we can schedule him to come and talk to us.
Mr. Benton noted he will get him here as soon as possible.
Comm. Henry noted if we are trying to get down to $7.5 million, we take $780,132 off Recreation that would bring them down to $1,219,868, we already have $300,000 set aside in current SPLOST, add that back to it and it would give us $1,519,868. This would bring the $8.2 million down to $7.5 million.
Comm. Pennamon asked why we are just jumping on Recreation.
Comm. Henry noted he is not jumping on Recreation, he is just making a suggestion.
Comm. Pennamon suggest go with the $8.2 million and move forward.
Comm. Henry noted if we want this thing to pass we have to get some numbers that the people will accept.
Comm. Pennamon noted we will have to get on board and get people out there to sell it.
Comm. Salmon clarified that at the end of the SPLOST, whatever is left on the debt we could look at re-financing or doing another SPLOST.
Mr. Benton noted that is correct.
Mr. Benton noted the board will need to decide if they want to go 15 years or 20 years on amortization.
Comm. Henry noted he would like to keep it at 15 years.
Comm. Pennamon noted he thinks we need to let a financial person tell us the best way to go.
Comm. Henry noted we don’t need someone from outside the county telling us how much debt to go into.
Comm. Jernigan noted we are going to make the decision, he will be advising us.
Mr. Benton noted he will get Mr. Owens here next week for a called meeting.
Commissioners discussed a possible called meeting on Thursday, July 27, 2017 at 5:00 p.m.
Atty. Ozburn noted he may need an Executive Session on Thursday, he will know in the morning if it can wait until the August 7th meeting.
Comm. Pennamon declared the Work Session closed at 6:40 p.m.
Carl Pennamon, Vice – Chairman
Sharon S. Robinson, Clerk