Oconee set for taxpayer-backed bond sale

Many questions were posed – some with a sharp edge – yet, in the end last night Oconee’s governing board unanimously set in motion the sale of up to $25 million worth of general obligation bonds.  This sale, it was pointed out, was the largest ever for Oconee County general government purposes.  It was the purposes which received much debate last night after a critic of the council chairman labeled the bond sale a “$25 million slush fund”.  District Three resident Luke Moore admitted to being “riled up” about the county council taking the authority to create funds for capital projects, including wastewater improvements, accusing the council of pursuing wants instead of needs.  A question by Glenn Hart, District Five Councilman, elicited the opinion that although the county was assuming up to $25 million dollars in bond sales, it can choose to settle on a lesser amount.  However, a county financial advisor cautioned the council about sending mix messages to the leading bond raters.  The council vote was 5-0 on third and final reading.  And, although District Four’s Julian Davis, cast his vote on the yes side, he raised various questions, including the lack of specifics as to exactly where the council will spend the money.  Later Amanda Brock, county administrator, reminded the council of a commitment made in April to a potential economic development prospect that hinged on infrastructure.