Forsyth County leaders move forward on a new way to sell SPLOST bonds, but they're not in complete agreement.
County Manager Eric Johnson recommended the transition as a best practices move advised by financial advisors Davenport and Company but District 3 Commissioner Todd Levent expressed concerns.
He said, "The fact that we've got a AAA bond rating when we can get a better rate on these markets when people are bidding direct with what they charge us on bond a lot of it rests back on we have AAA rating with two of the biggest companies out there."
District 4 Commissioner Cindy Jones Mills told County Manager Eric Johnson she felt rushed to make the decision. "We didn't get to be a part of the decision," Jones Mills said. "I mean, we're a board and we did not... it got sprung on us."
Johnson disagreed and called the competitive sale method the best practices, which allows any broker-dealer or dealer bank to bid on them.
Previously, the bonds were sold via a negotiated sale, meaning the underwriter bought them first before selling them off.
Jones Mills and Levent voted against the change.

http://accesswdun.com/article/2019/6/805474/forsyth-county-commissioners-vote-on-new-way-to-sell-splost-bonds