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County asks building authority for paving funds
by Adam Elrod
August 28, 2013 09:05 AM | 1308 views | 0 0 comments | 21 21 recommendations | email to a friend | print
The Paulding County government is asking the county’s Industrial Building Authority to issue bonds to fund road improvements in unfinished subdivisions.

Post 3 Commissioner Tommie Graham presented the plan at the authority’s meeting last week.

There are 62 developments with residents in the unincorporated parts of the county which have substandard roads, he said.

Graham said the county’s goal is “to bring these substandard streets up to standard.”

Issuing the bonds should bring in the $4.4 million it will take to fix the 44 miles of road, he said.

The county needs the building authority to issue the bonds instead of doing it themselves because the authority can do so without a referendum, he said. Every bond the authority issues is guaranteed by county funds.

Graham said the authority needs to issue the bonds by the end of the year so they can be “bank qualified” and more attractive to banks, he said.

“It is easier for us to sell [when bank qualified],” Graham said.

The next step is to get a commitment from the commissioners and the building authority.

After that the Paulding Department of Transportation will create a bid package, bid the project out by February 2014, and should have the project complete by fall 2014, Graham said.

Authority executive director Blake Swafford said the agency board should vote twice on the matter, once in September and once in October.

Swafford said once the project is complete it should help raise property values for existing homes in the developments.

Also it helps make the county more aesthetically pleasing, which helps the authority when it is trying to recruit new businesses.

Graham said it will probably take five years for the county to repair the roads and costs will increase if the authority does not issue the bonds.

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