AUGUSTA,Ga (WJBF) Augusta city leaders are preparing to go into debt.
City financial consultants talking about the issuing of 12 million dollars in bonds for the Cyber Training Center parking deck.
Consultants recommend the city pay only interest on the bonds through 2023.
About a half a million dollars per year.
Then they say a future commission can include paying off the bonds and remaining interest in the next phase of the special purpose sales tax.
“I think that’s the way we’re going to have to do it based off the financial picture of what we have going on in this county,” says Commissioner Sean Frantom who is also Chairman of the Finance Committee.
“All right is that a hard sell?’
“SPLOST is always a hard sell,” said Frantom.
The Commission is expected approve issuing the bonds for the parking deck early next month.