VALDOSTA The Valdosta City Schools Board of Education called a meeting to approve the issuance of the series 2025 bonds Thursday night. The board voted wholly in favor of the final details of the interest principal payments and pricing details for the series 2025A and 2025B bonds in which existing debt is being refinanced and money is being borrowed to generate $10 million in VCS’ construction fund. Raymond James Managing Director Bill Camp opened his address to the board by saying, “I know your time is valuable, and very rarely can you determine the value of your time, but you’re gonna make a million dollars at this meeting, so there you go.” Thus, the meeting lasted a little more than 16 minutes. Camp worked with Valdosta City Schools on its bond issuance last year and has worked with VCS on past transactions. “Sales tax is doing great the last five years,” Camp said. “Every year in Lowndes County, you get a portion of sales tax with no growth in your sales tax. Again, we’re in Sales Tax 6 and you’ve already renewed Sales Tax 7, so there’s really nothing to worry about or to take action on anytime soon on the SPLOST front, but you’re going to collect about $15. 6 million a year in SPLOST. Sales tax doesn’t change, and of course, it’s been growing.” According to Camp, Raymond James and VCS began talks on the refunding in March, making plans for the rebates, and now the financial group can legally refinance the bonds and do it on tax-exempt basis. Camp explained, “2025A bonds will be paid back with the same term as the 2015 bonds, so we’re not extending the debt at all, and we’re saving money in each year, and we’ve structured it to save most of the money in the first couple of years.” A petition for the bond validation has already been signed by the district attorney, and a bond resolution hearing will be held on Thursday, Dec. 11. The judge will hear it and presumably sign the order, and once signed, the money will be issued on Dec. 23.
https://valdostadailytimes.com/2025/11/21/valdosta-boe-reaches-bond-resolution/
Valdosta BOE reaches bond resolution
