Walker County to Refinance Previously Issued Bonds, Saving Taxpayers Over Two-Million Dollars

Rock Spring, GA – A proposal to refinance a series of revenue bonds could result in over two-million dollars in savings to Walker County taxpayers.

The Walker County Development Authority (WCDA) issued the Series 2015 bonds on behalf of Walker County Government, in order to fund the completion of infrastructure and dirt work at the Walker County Industrial Park.

Four years ago, WCDA issued the bonds contingent on the county being financially obligated for all fees, interest and payments.  WCDA also made obtaining over $17.5 million in Series 2015 bonds contingent upon receiving a rate not to exceed 7.5%.  This year, based on Walker County’s improved financial conditions, WCDA proposes to refinance the remaining balance of the bonds contingent upon receiving a rate not to exceed 4.9%.

As part of the refinancing process, Walker County expects to receive an upgraded credit rating, due to the same improvements in the county’s balance sheet and financial outlook that would allow the lower interest rate cap.

“One of the top priorities of my administration has been to get our financial house in order.  Restoring Walker County’s credit rating makes lower rates like this possible for existing debt,” said Commissioner Shannon Whitfield.  “The latest audit shows our balance sheet in a much stronger position than in 2015.  This allows us to turn yet another page in our shared journey together toward freedom from crippling county debt. We are thrilled this will save the taxpayers of Walker County millions of dollars.”

WCDA approved the bond resolution at its meeting on Tuesday, June 11th.  Commissioner Shannon Whitfield will review the proposal at his meeting on Thursday, June 13th.  Once the bonding agency has received final interest rate terms, both government entities will make a decision on whether to move forward with the refinancing proposal.

Walker County Fire Chief Blake Hodge Receives Executive Fire Officer Designation

LaFayette, GA – Walker County Fire Chief Blake Hodge received local and state recognition during last night’s Commissioner meeting.

Hodge successfully completed the U.S. Fire Administration’s National Fire Academy’s four year Executive Fire Officer Program. The EFOP focuses on leadership development, lifelong learning, being proactive instead of reactive and utilizing research and analytics to reduce risk, among other skills.

Chief Hodge is one of only 72 Executive Fire Officers in the state of Georgia.

Along with a local proclamation to recognize this accomplishment, Chief Hodge received a proclamation from Georgia’s Insurance & Safety Fire Commissioner for the county’s campaign to install smoke alarms in every home in Walker County at no expense to citizens.  305 smoke alarms have been installed so far in 2019.