The Douglas County School System currently has outstanding bonds.   These bonds are paid for through the existing school bond portion of your property taxes and a portion of ESPLOST funds.  The current School Bond Millage Rate is 0.9 mills or 0.0009.  As of April 1 2007, when the School System makes it's annual payment, our outstanding bond debt will be $106,025,000. This is outstanding debt is principle only and does not include future interest payments.

Bonds are treated just like mortgages, with interest rates, and credit ratings. 

In Douglas County we have these outstanding bonds with the following scheduled payoff dates

General Obligation bond ser 2005 to pay off in April 1, 2020

• Originally sold on 10 May 2005 for $78.60 Million
• Fitch Rating AAA Insured:Financial Security Assurance Inc.
• Moody's Bond Ratings

AAA 25 May 2005 Insured
AA2 06 May 2005 Enhanced
A1 06 May 2005 Underlying

• Estimated Interest $19.10 - $26.05 Million

General Obligation bond ser 2002A to pay off in April 1, 2010

• Originally sold on 13 Aug 2002 for $26.72 Million
• Moody's Bond Ratings

A1 06 May 2005 Underlying

• Estimated Interest $3.36 - $4.54 Million

General Obligation bond ser 2002 to pay off April 1, 2007

• Originally sold on 22 Jan 2002 for $9.94 Million
• Moody's Bond Ratings

AA2 18 JAN 2002 Enhanced
A1 06 May 2005 Underlying

• Estimated Interest $776,000 - $1.04 Million

General Obligation bond ser 2001 to pay off April 1, 2007

• Originally sold on 19 April 2001 for $30.00 Million
• Moody's Bond Ratings

A1 06 May 2005 Underlying

• Estimated Interest $2.81 - $3.79 Million

General Obligation Refunding bond ser 1999 to pay off JAN 1, 2015

• Originally sold on 3 Feb 1999 for $25.64 Million
• Moody's Bond Ratings

A1 06 May 2005 Underlying

• Estimated Interest $6.6 - $9.11 Million

General Obligation bond to pay off Jan 1, 2015
Editor's Note:  This bond was paid off January 1, 2007

• Originally sold on 16 May 1995 for $20.00 Million
• Moody's Bond Ratings

AAA 30 May 1995 Insured
A1 06 May 2005 Underlying

•  Estimated Interest $6.6 - $9.0 Million

General Obligation bond to pay off Jan 1, 2010
Editor's Note:  This bond was paid off or refinanced with the series 2002A bond in 2002

• Originally sold on  18 Feb 1993 for $32.88 Million
• Moody's Bond Ratings

AAA 16 MAR 1993  Insured

• Estimated Interest $7.42 - $11.69 Million 

The Proposed Bond would be for $150.55 Million for 20 years with an estimated pay off date of April 1, 2028.

Estimated Interest on the proposed bond  $52.55 - $72.21 Million