Henry County has adopted a resolution ahead of an upcoming $100 million dollar bond sale. The funding is for capital buildings projects.
Henry County $100 Million Dollar Bond
Henry County intends to finance $100 million dollars through its public facilities authority. The authority was created by a local act of the Georgia General Assembly in 2023. It allows Henry County to utilize revenue bonds for building projects.
Revenue bonds, unlike their traditional counterpart government obligation bonds, do not require voter approval for a county or city to issue them. As a result, they are not guaranteed by the full-faith and credit of the municipality’s tax digest. This means there’s not a dedicated bond levy to repay them on local property taxes.
When approving the 2025 budget, the county’s presentation listed “additional funding available for all departmental [operating and capital] needs.” The budget presentation shared an overview of the county’s plans for bond projects:
According to the budget presentation, the bonds would be on a 20-year repayment schedule. This would conclude in 2045. The county plans additional bond sales in 2027 and 2030.
The resolution adopted January 7 lists which projects are being financed:
Henry County, Georgia (the “Issuer”), acting by and through its Board of Commissioners, plans to acquire or construct certain capital projects within the boundaries of the Issuer, including without limitation 911 / emergency management facilities, fire safety training facilities, public safety firing range facilities, a fire station, a central energy plant, Superior Court improvements, jail improvements, a judicial annex, airport improvements, and the acquisition of associated real and personal property (such projects collectively, the “Project”).
Henry County Resolution 25-33, adopted January 7, 2025.
Most of the above-referenced facilities are part of a public safety campus master plan. It will be on the former Cotton Fields golf course property in McDonough.
According to the county attorney, the resolution declares the county’s intent to “back-stop” the pending financing. The board unanimously approved it. The public facilities authority, comprised of BOC appointees, handles the bond sale.
Facilities Authorities in Henry County
The use of a public facilities authority to finance capital projects is not new in Henry County. For example, the city of Stockbridge has had such authority since 2019. Their authority bonded funds to pay for the amphitheater’s construction and other city projects.
Featured image shows the board of commissioners on January 7, 2025. Henry County video screenshot.
