Walker County Called Session Meeting April 28th, 2026

The Walker County Board of Education held a called session meeting on April 28, 2026, primarily focused on the issuance and management of $20 million in general obligation sales tax bonds to fund capital projects under the Special Purpose Local Option Sales Tax (SPLOST) program. Representatives from Raymond James, the bond underwriter, presented detailed information about the bond sale, including the bond rating (A1), pricing, repayment schedule aligned with sales tax collections, and the involvement of local investors such as the Bank of Lefayed. The board discussed the legal validation of the bonds, the necessity of a tax levy resolution as a safeguard, and the conservative approach of bonding only a portion of the projected sales tax revenue to ensure fiscal responsibility. The meeting included motions and unanimous votes to adopt the bond resolution, approve revised deal prices related to proprietary technology components, and proceed with necessary documentation and agreements. Additionally, the board reviewed the restrictions on SPLOST funds usage, emphasizing that funds are dedicated to capital outlay projects and cannot be used for operational expenses like salaries or utilities. The meeting concluded with a brief discussion on audit requirements for SPLOST funds and a motion to enter executive session for personnel matters.