Gray & Pannell LLP

Meriwether County Water and Sewerage Authority

jonpannell — Wed, 15 Jul 2009 19:16:33 +0000

The Meriwether County Water and Sewerage Authority issued $15,345,000 of its water and sewerage revenue bonds on July 9, 2009. Gray & Pannell LLP acted as bond counsel to the Authority. The revenue bonds were issued to help finance a new water and sewerage system for the Authority. Because of growth in the north end of Meriwether County near I-85 and the Kia Automotive Plant, the County has taken a proactive approach to accomodate this growth and expand and improve water and sewerage service for all of the County. Gray & Pannell LLP began working with Meriwether County and the Authority in mid-2008 to structure and deliver the issue and was proud to be hired as bond counsel to the Authority for its first ever bond issue.

Bibb County Self Liquidity issues

jonpannell — Fri, 10 Jul 2009 18:53:26 +0000

On June 30, 2009, Gray & Pannell LLP acted as bond counsel to Bibb County on the closing of a $11,500,000 refunding and improvement revenue bond through the Macon-Bibb County Industrial Authority. The financing was unique in that the Authority issued variable rate bonds backed by the self liquidity of Bibb County instead of a financial institution’s letter of credit.
On June 30, 2009, Gray & Pannell LLP also acted as bond counsel to the Macon Water Authority on the closing of $17,995,000 of refunding revenue bonds. As with the County financing the debt was issued as variable rate bonds but backed by the self-liquidity of the Water Authority.
This type of self-liquidity structure is more common with large issuers such as private universities and infrastructure banks, but uncommon for a governmental entity such as the County or Water Authority. If you would like more information about details of this financing option, please contact Jim Pannell or Jon Pannell.

Liberty County Justice Center

jonpannell — Sat, 20 Jun 2009 15:12:40 +0000

On June 17, 2009, Gray & Pannell LLP closed a $20,785,000 financing for Liberty County through the Liberty County Public Facilities Authority. The bond issue will be used by Liberty County to finance a new justice center adjacent to the courthouse in Hinesville.
Gray & Pannell LLP began working with Liberty County in 2007 on the project and in conjunction with the project assisted the County in the renewal of their SPLOST in 2008. A portion of the proceeds from the SPLOST renewal will be used to repay the bonds issued through the Authority on behalf of the County.

Eastman Water and Sewerage Bonds

jonpannell — Fri, 15 May 2009 15:11:52 +0000

On May 7, 2009, the City of Eastman, Georgia issued a $7,395,000 water and sewerage revenue bond through USDA - Rural Development. Gray & Pannell LLP acted as bond counsel to the City. The revenue bond was issued to construct additions and improvements to the water and sewerage system of Eastman.
Gray & Pannell LLP works regularly as bond counsel to smaller communities throughout the State of Georgia issuing debt through the USDA Rural Development program. USDA Rural Development makes loans and grants to help finance utilities and communitity facilities to areas of less than 25,000 people. For more information regarding this program, please contact our offices or visit www.rurdev.usda.gov.

Decatur County Bonds

jonpannell — Fri, 20 Mar 2009 18:00:15 +0000

On March 19, 2009, Decatur County issued its $8,455,000 Decatur County General Obligation Sales Tax Bonds, Series 2009. Gray & Pannell LLP acted as bond counsel on the transaction. The attorneys of Gray & Pannell LLP began working with the Board of Commissioners in the early summer of 2008 on the renewal of their SPLOST and a bond program for the County. The bonds were authorized in conjunction with the renewal of the Decatur County SPLOST by the voters of the County on September 16, 2008.

Super Lawyers 2009

jonpannell — Tue, 03 Mar 2009 19:16:06 +0000

Tom Gray and Jim Pannell have both been named Georgia Super Lawyers for 2009. The recognition is published annually by the publishers of Atlanta Magazine. Tom and Jim have both received this distinction every year since 2004. A list of the 2009 Georgia Super Lawyers can be found at www.superlawyers.com

Colquitt County Schools

jonpannell — Sat, 21 Feb 2009 18:00:45 +0000

Gray & Pannell LLP served as bond counsel to the Colquitt County School District on the closing of its $8,000,000 Colquitt County School District General Obligation Bonds, Series 2009 on February 19, 2009. The $8,000,000 financing was the second series of bonds issued by the School District after the voters approved up to $20,000,000 in bonds in a special election held on February 5, 2008. The Series 2009 Bonds will be used to finance capital improvements throughout the School system and will be repayed through the educational sales and use tax (ESPLOST) currently being collected in Colquitt County.

New City Hall for Garden City, Georgia

jonpannell — Sun, 15 Feb 2009 18:00:06 +0000

On February 12, 2009, Gray & Pannell LLP served as special counsel to the City of Garden City on the financing of a new City Hall. The $9,950,000 transaction was structured as an Installment Sale Agreement between Garden City and Georgia Municipal Association. The new city hall will be the centerpiece of a new Garden City Town Center located off of Chatham Parkway.
The attorneys of Gray & Pannell LLP have worked with dozens of cities and Georgia Muncipal Association over the years structuring multi-year financings through GMA’s bricks and mortar program. The Garden City project is a great example of how cities in Georgia can finance real property and capital improvements through GMA.

$12,000,000 Jeff Davis School District Bonds

jonpannell — Fri, 09 Jan 2009 14:31:54 +0000

Gray & Pannell LLP acted as bond counsel to the Jeff Davis School District on the issuance of $12,000,000 in aggregate principal amount of general obligation sales tax bonds in December of 2008 and January of 2009. The $12,000,000 of bonds is the first time in a decade that the School District has issued debt for capital projects. The proceeds of the bonds will be used to construct a new Jeff Davis Middle School and to renovate Jeff Davis High School.

Lowndes County Schools

jonpannell — Fri, 09 Jan 2009 14:27:50 +0000

On December 17, 2008 and January 6, 2009, Gray & Pannell LLP served as bond counsel to the Lowndes County School District on the issuance of $27,130,000 in aggregate principal amount of Series 2008 and Series 2009 general obligation bonds. The Series 2008 and Series 2009 bonds were the last series of bonds to be issued by the School District of the $80,000,000 authorized by the voters of Lowndes County in 2006. The attorneys of Gray & Pannell LLP began working with the School District in early 2006 on the $80,000,000 bond program to build two new elementary schools, a new midle school and a new high school for the district.