Madison County municipal officials want more clarification on what a bond resolution passed by county commissioners Monday will mean for cities in regards to sales tax collections.
A meeting on the matter will be held at 6 p.m., Monday, June 8 at the Comer Travel Museum. The county’s bond attorney, Jim Woodward, will attend to answer questions. Facemasks are optional.
Last year, county voters approved the renewal of the one-cent Special Purpose Local Option Sales Tax (SPLOST), which county leaders anticipate will generate $13.3 million over six years. That includes funding for a variety of county projects, but cities will receive $1.6 million in sales tax money.
The breakdown of SPLOST funds for cities is as follows: Carlton, $137,783; Colbert, $310,172; Comer, $591,057; Danielsville, $294,197; Hull, $103,834; and Ila, $177,052.
The county has agreed to a bond arrangement that will put $9 million toward SPLOST projects up front, meaning the government groups won’t have to wait for all of the pennies to trickle in over six years.
But the county is seeking quick approval from towns so that an interest rate of less than one percent can be locked in this month. But what does this resolution mean for cities? That’s what town leaders want clarified. The meeting is aimed to answer their questions.
The Danielsville City Council was scheduled to meet Monday night, but the group pushed its meeting back to Tuesday at 7 p.m. at city hall.