HAVE A VOICE - VOTE MAY 19TH
High-growth school districts cannot afford to wait five years for ESPLOST funds to accumulate before constructing new school buildings; they need the facilities as soon as possible to accommodate increasing enrollment. By authorizing and selling bonds, districts can secure the necessary funds immediately and repay the debt over time using ESPLOST revenue. Bryan County Schools, which holds the highest bond rating available, benefits from lower interest rates, ensuring cost-effective borrowing and responsible financial management.
Bryan County Schools has sold bonds on four occasions since 2018, yet the debt service millage rate of 1.5 mills has remained unchanged. This is because the majority of the bonds are repaid using ESPLOST funds, which help maintain a steady debt service millage rate and reduce the financial burden on property owners in Bryan County.
Bryan County Schools maintains a debt service millage rate of 1.5 mills. When issuing additional long-term General Obligation (GO) bonds, we structure repayment schedules strategically.
This approach works because:
Our community continues to grow
The tax digest increases as new homes and businesses are added
ESPLOST collections also grow with population and economic activity
As a result, the total revenue generated at our current 1.5 mills is also projected to increase over time.
This allows us to:
Maintain a stable tax rate
Fund capital needs responsibly
Match long-term assets with long-term growth
If growth meets or exceeds projections, the district may generate more debt service revenue than required to meet annual bond payments.
At that point, the Board would have options:
Reduce the debt service millage rate
Accelerate bond repayment
Shorten the repayment term
The long-term objective is not only to avoid increasing the rate — but to position the district to reduce it when fiscally responsible.
In addition to projected tax digest growth, the district anticipates increasing PILOT (Payment In Lieu of Taxes) revenues associated with the Hyundai development.
These PILOT payments are structured to increase over the 20-year abatement period. As those revenues grow, they provide additional avenues that could be used to reduce the debt service millage rate.