Development Authority of Pickens County | July 6, 2026

The Development Authority of Pickens County held a meeting on July 6, 2026, primarily focused on the refinancing of existing taxable revenue bonds related to the airport project. The board approved a resolution authorizing the issuance of bonds not to exceed $7.3 million with a maximum interest rate of 6.25%, aimed at refinancing the 2018 and 2021 bond series to achieve lower interest rates and generate savings. The process includes a bond validation hearing scheduled for August 5, 2026, followed by a final approval meeting on August 17, 2026, coordinated with the Board of Commissioners. The refinancing is expected to reduce the blended interest rate significantly, potentially saving approximately $800,000. The meeting also addressed public communication strategies to clarify that this is a refinancing effort, not new borrowing, and discussed procedural steps including public notices and court validation. No new borrowing was authorized at this time, and the board agreed to monitor market conditions closely before finalizing the bond sale.