The Oconee County Board of Education has decided to take the required legal step to issue $12.1 million in General Obligation Sales Tax Bonds to be retired by funds from the Education Special Purpose Local Option Sales Tax (ESPLOST) voters approved in November.
The bonds will be sold at interest rates not to exceed 5.5 percent per year, and principal is to be paid beginning in 2028 and running through 2032, or one year longer than the ESPLOST approved in November is scheduled to run.