SPLOSTSpecial Purpose Local Option Sales Tax
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Although (E)SPLOSTs (2) have generally proven successful when brought before voters, one of the most recent large-scale SPLOST initiatives, the transportation special purpose local option sales tax (TSPLOST), ended in almost complete defeat.
Although the rating for all series of bonds is ultimately based on the county's general obligation pledge, the county has historically paid debt service on the series 2009 bonds from SPLOST revenues.
County commission Chairman Ken Hickey said county SPLOST financing budgeted for the project will go to the SPLOST contingency fund to finance other road work.
Overall county carrying costs including various county debt service, pension and OPEB are low at 13% of total fiscal 2010 general and SPLOST fund revenues.
DOUBLE BARREL PLEDGE: Outstanding GO bonds are paid first from SPLOST revenues and to the extent necessary, from ad valorem taxes which may be levied, without limitation as to rate or amount.
The Commissioners of Gordon County issue this Request for Qualifications for a construction consultant with substantial construction experience to serve as an independent contractor to recommend the hire of necessary specialists to evaluate the Gordon County Courthouse and Courthouse Annex to further the SPLOST project to repair and renovate those buildings.
Like most local governments in Georgia, the county utilizes a voter-authorized 1% SPLOST to finance various capital projects.
The SPLOST will fund debt service on the current GO bonds as well as the previous issue, totaling $52.
The City wishes the auditor to examine and express an opinion on the fair presentation of their general purpose financial statements, the combining statements by fund type, the individual fund or account group statements, the SPLOST schedule, and the supporting schedules in conformity with accounting principles generally accepted in the U.
The conversion of athletic fields to synthetic turf at Mud Creek Park (3 fields), Hubert Park (4 fields) and Terrell Mill Park (1 field) will be funded by the 2016 SPLOST.
Projected collections over the life of the SPLOST term are reportedly down by about $40 million relative to the original forecast.