Pike County Times
The Pike County Times, PO Box 843, Zebulon, Georgia 30295. Click here to donate through PayPal. Becky Watts: Phone # 770-468-7583 editor@pikecountytimes.com
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This online news website is owned and operated by Becky Watts. The Editor can be reached at 770-468-7583 or at editor(at)PikeCountyTimes(dot)com. Pike County Times is a website for citizens to keep up with local events and stay informed about Pike County government. It began on November 13, 2006 as a watchdog on county government and has turned into an online newspaper.

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Special Called Meeting - June 17, 2016
Courthouse Annex, 79 Jackson Street, Zebulon, Georgia

[Note from the Editor: This is from the Meeting Post Agenda.] The Pike County Board of Commissioners held its Special Called Meeting on Friday, June 17, 2016 at 8:30 a.m. in the Commissioners Meeting Room, Courthouse Annex, at 79 Jackson Street, Zebulon. Chairman Briar Johnson convened the meeting and Commissioners Tim Daniel, Tim Guy, Tommy Powers and James Jenkins attended. County Manager John Hanson and Ginny Blakeney, who recorded the meeting minutes, were also present.

County Manager John Hanson received four sealed bid packages regarding the financing of the 2016 SPLOST projects. He will go over them now and then take them in for review of details to compare the total cost of each financial institution’s bid.

1. BB&T – McDonough, GA. Amount to be financed = $ 4,640,000 with two options: Option 1 – 1.39% with maturity of 2021 and Option 2 – 1.49% with maturity of 2022.

2. STIFEL. Private Placement Options : Option 1 – Estimate cost of 1.45% for loan transaction with maturity date of 09.01.2022 and Option 2 – Estimate cost of 1.40% for loan transaction with maturity date of 09.01.2021. Public Offering Options: Option 1 – Estimate cost of 1.23% for maturity date of 09.01.2022, plus additional financing fees and Option 2 – Estimate cost of 1.14% for maturity date of 09.01.2021, plus additional financing fees.

3. United Bank – Zebulon, GA. Loan Amount = $4,640,000 with a couple of rates: Option 1 – 2.089% fixed for 5 years and Option 2 – 2.239% fixed for 6 years.

4. Raymond James & Associates: Option 1 – $4,640,000 with a bond yield of 1.68%, all in cost of 1.94% and Option 2 – $4,450,000 with a bond yield of 1.25%, all in cost of 1.94%.

They have proposed bonds over a period of specified years with different rates for each year, with the total aggregate of what the cost would be. County Manager John Hanson will compare all of the bids to get the total of each offer to see which one is the best value and report back to the board as soon as they are evaluated. He also proposed to entertain a motion to accept the bids for review. Motion to accept the bids for review. Approved 5-0.

Motion/second by Commissioner Powers/Commissioner Guy to adjourn at 8:39 a.m. Approved 5-0.

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Submitted 3.10.15