Oconee County Board of Commissioners Scheduled To Approve New Hard Labor Creek Debt

The Oconee County Board of Commissioners is scheduled to give final approval Tuesday night to loan documents that will add $5.8 million in new county debt for construction of the Hard Labor Creek Regional Reservoir in Walton County.

Board of Commissioners Chairman Melvin Davis has promised county officials will provide information to the public on population projections, future water use estimates, and plans for retirement of the debt before the Board makes its decision.

The county’s debt will be part of a $20 million loan package from the state of Georgia to the two counties for construction of the dam for the reservoir. It will not cover the costs of the water treatment plant or the distribution system.

The debt will be on top of the $19.5 million in debt the county already has accepted for the reservoir through bond sales shortly after the county agreed to join Walton County on the project in 2007.

A series of charts I have prepared show the complexity of the issue before the county and the commissioners. Population growth is projected to be modest in the short term. Recent growth in the customer base has been small. Water use dropped dramatically after the drought and housing collapse. Revenue has increased but only with annual rate increases.

For details, go to Oconee County Observations. 

See also:

• Hard Labor Creek Loan Put Forward For January Vote at Oconee County Board of Commissioners Meeting
• Oconee County Board Of Commissioners To Consider New Debt for Hard Labor Creek Regional Reservoir
• Oconee County and Walton County Votes On Hard Labor Creek Loan Postponed to January
• Hard Labor Creek Management Board Still Waiting on Loan Documents From State
• Hard Labor Creek Management Board Agrees To Consider Adding Citizens from Walton and Oconee Counties