General Obligation Bonds
The Jackson County School System currently has two General Obligation Bonds in which it is paying off. The first bond is from 2006, with the second bond coming in 2019.
The following is a list of projects completed with G.O. Bond financing, along with FAQs regarding G.O. Bonds.
2005 Bond — $70,000,000
- Construction of East Jackson Comprehensive High School
- Construction of Gum Springs Elementary School
- Construction of current South Jackson Elementary School
2019 Bond — $52,660,000
- Construction rebuild of Jackson County High School at its current Hoschton location
Things to know about G.O. Bonds
A G.O. Bond Requires A Vote
In order for a General Obligation (G.O.) Bond referendum to be passed, it must receive at least 50 percent of the votes during a general voting period. Every registered voter inside unincorporated Jackson County would be eligible to vote on the referendum.
How Are Bonds Paid Back?
With commerce growing inside Jackson County, SPLOST revenue funds are increasing for the Jackson County School System. While funding future projects solely off SPLOST money is not possible, a portion of SPLOST revenue will be directed toward making the bond payment each month. In addition, the Jackson County School System has a Bond Millage Rate of 2.6 mills.
A G.O. Bond Approval Does Not Mean An Increase In Property Taxes
By prioritizing SPLOT funds to pay back a G.O. Bond, there should be little-to-no impact on local property taxes. The obligation to pay back the G.O. Bond is solely the responsibility of the school system.