Press release, Sept. 19, 2006A

Tuesday, September 19, 2006

Contact: Office of Communications 404-651-7774

State Issues $578 Million in Bonds to Support Education and State Government Infrastructure

ATLANTA Governor Sonny Perdue announced that today the state of Georgia sold more than $578 million in General Obligation Bonds to support Georgia's education system and state infrastructure.

"Georgia can have the best teachers, one of the nation's top curriculums and thousands of students on the HOPE scholarship, but we must also have state-of-the-art facilities such as classrooms, learning centers and more capacity at our technical colleges," said Governor Sonny Perdue. "This bond sale reflects a serious investment in education, bringing our total investment in education infrastructure to more than $1.9 billion the last four years."

The bond sale included more than $219 million for Georgia's K-12 education system, more than $185 million for higher education and more than $27 million for technical and adult education.

Due to the state's excellent credit rating, Georgia General Obligation Bonds are attractive to investors. As a result of the bids received today, the state is funding these projects at the low interest rate of 3.54 percent for the five-year projects, and at 4.12 percent for the 20-year projects. The state's AAA rating is due to conservative fiscal and debt management, well-funded pensions, a commitment to building strong reserves and a diversified and growing economy. Georgia is one of only six AAA-rated states.

A complete list of the bonds sold today is provided below.

Agency Building Authority
Building Authority Total Corrections

Years 20

Project Descriptions per Comparative Summary
Fund corrective construction work of state owned fuel storage tanks.

5 Fund Central repairs at various locations.

Bond Amount 5,000,000
5,000,000 1,780,000

Corrections

5

Corrections

20

Corrections

20

Corrections Total

Defense

20

Defense Total

Economic Development

20

Economic Development

20

Economic Development Total

Education

20

Education

20

Education

20

Education

20

Education

20

Education

20

Education

20

Education

20

Education

20

Education

20

Education

20

Education Total

Environmental Facilities Authority

20

Environmental Facilities Authority

20

Environmental Facilities Authority

20

Environmental Facilities Authority

20

Environmental Facilities Authority Total

Forestry Commission

5

Fund portal security enhancement equipment at various facilities. Fund minor construction at various locations. Fund renovations for Headquarters and Training Academy relocation to Monroe County.
For renovations and improvements at various locations
Provide funding for the Columbus Trade Center. For the Columbus Trade Center
Authorize regular funding for local school construction. Authorize exceptional growth funding for local school construction. Authorize regular advance funding for local school construction. Authorize low wealth funding for local school construction. For deferred funding from FY 2004. For regular funding. For growth funding. For regular funding for local school construction For exceptional growth funding for local school construction For regular advance funding for local school construction For low wealth funding for local school construction
Provide low interest loans for local water and sewer construction projects. Provide matching funds for the clean water construction loan program. Provide matching funds for the drinking water construction loan program. To provide low interest loans for local water and sewer construction projects.
Forestry Buildings: Equipment

3,500,000
4,515,000 7,500,000
17,295,000 1,805,000
1,805,000 11,000,000 11,000,000 22,000,000 60,000,000 87,000,000
53,425,000
3,500,000 1,000,000 1,000,000 1,750,000 5,000,000 5,000,000
500,000 1,000,000 219,175,000 22,000,000
9,000,000
3,500,000
6,500,000
41,000,000 1,500,000

Forestry Commission Forestry Commission Forestry Commission Total GSFIC GSFIC Total Human Resources
Human Resources Human Resources Human Resources
Human Resources
Human Resources
Human Resources Total Juvenile Justice Juvenile Justice Juvenile Justice Total Labor Labor
Labor Total Natural Resources
Natural Resources

for maintenance needs
5 Fund major repairs and renovations statewide.
20 Traditional Industries and Research Alliance - Herty: Renovations and Improvements
5 Fund statewide ADA related facility accessibility improvements.
5 Replace kitchen equipment, East Central Regional Hospital, and laundry equipment East Central Regional Hospital, Gracewood .
5 Replace laundry equipment, Northwest Regional Hospital.
20 Fund facility roof replacement and boiler replacement, Savannah Regional Hospital.
20 Fund roof replacement and flooring replacement, East Central Regional Hospital, Gracewood.
20 Fund HVAC replacement, and plumbing and mechanical system replacement, Freeman Building, Central State Hospital.
20 Renovate Building #15, construct small warehouse, and roof replacement, Atlanta Regional Hospital.
5 Fund major repairs at various facilities statewide.
5 Fund minor construction and renovations at various facilities statewide.
5 Fund roof replacement of various buildings at Roosevelt Warm Springs Institute.
5 Upgrade the sprinkler and fire alarm system improvement program at various facilities statewide.
5 Fund North Georgia lodge renovations at Amicalola Falls, Unicoi, and Red Top Mountain state parks.
20 Construct and purchase equipment for the Suwannee River Eco-Lodge meeting facility.

1,000,000 600,000
3,100,000 1,600,000 1,600,000
725,000
135,000 2,535,000 3,290,000
5,560,000
2,580,000
14,825,000 5,270,000 5,485,000 10,755,000 1,070,000 1,400,000
2,470,000 1,000,000
2,000,000

Natural Resources Total Ports Authority Ports Authority Ports Authority Ports Authority Total Regents
Regents Regents Regents Regents Regents Regents Regents Regents Regents Regents
Regents Regents
Regents

20 Complete construction of the deepening of the Brunswick harbor.
20 For upgrade/overlay storage areas and Tomochichi Road straightening
20 For the deepening of the Brunswick Harbor.
20 Construct the new Post Road Branch Library, Forsyth County Public Library System, Forsyth County.
20 Construct the new Hall County Public Library, Hall County.
20 Renovate the Civil Engineering Building at Ga. Tech.
20 Ga. College and State University: Parks Nursing /Health Science renovation
20 North Georgia College and State: Library/Technology Center: 5.50%
20 State University of West Georgia: Health, wellness and lifelong learning center.
5 Fund Georgia Research Alliance R&D infrastructure for research universities.
20 Construct a Teaching Laboratory Building, Georgia State University.
20 Fund statewide major renovations and rehabilitation.
20 Design, construct, and purchase equipment for the Student Center Addition, Gainesville College.
20 Design, construct, and purchase equipment for the renovation of Social Science, Library, & Wilson Buildings, Kennesaw State University.
20 Fund design and construction for the renovation of historic Hill Hall, Savannah State University.
20 Design, construct, and purchase equipment for the renovation and addition to the Callaway Building, University of West Georgia.
20 Design, construct, and purchase equipment for the Marine Bioscience Research and Instructional Center, Skidaway

3,000,000 3,200,000 6,500,000 5,320,000 15,020,000 2,000,000
2,000,000 5,000,000 9,115,000 18,440,000 24,265,000 19,035,000 10,000,000 60,000,000
525,000 525,000
3,800,000 4,700,000
525,000

Regents Regents
Regents
Regents Regents
Regents Regents Regents Regents Regents Regents Regents
Regents Regents

Institute of Oceanography.
20 Design, construct, and purchase equipment for the addition to Building A, Waycross College.
20 Design, construct, and purchase equipment for the addition to Burnett Hall for a Leadership Hall, Armstrong Atlantic State University.
20 Design, construct, and purchase equipment for the a new academic building located at the Whitfield Career Academy, Dalton State College.
20 Design, construct, and purchase equipment for the addition to Herty Hall, Georgia College and State University.
20 Design, construct, and purchase equipment for the Animal and Dairy Livestock Facility in Oglethorpe County, University of Georgia.
20 Design and construct an Infrastructure-Utilities Corridor & Road, East Georgia College.
20 Renovation of Dillard Hall at Middle Georgia College in Cochran.
20 Infrastructure upgrades and replacement at Coastal Georgia Community College in Brunswick.
20 Campus infrastructure upgrades at University of Georgia.
20 Foy renovation/addition at Georgia Southern University in Statesboro.
20 Gordon College: Academic Success & Retention Center
20 Design, construct, and purchase equipment for the renovation of the historic Education Building, North Georgia College & State University.
20 Design and site preparation for an Academic Building to replace Jenkins Hall at Georgia Military College in Milledgeville.
20 Central Energy Plant Expansion at Augusta State University.

200,000 525,000
375,000
500,000 525,000
1,400,000 325,000 345,000 400,000
5,000,000 4,000,000 4,700,000
1,355,000 200,000

Regents
Regents Regents Regents Regents Regents Regents Total Revenue Revenue Total Technical and Adult Education Technical and Adult Education
Technical and Adult Education
Technical and Adult Education
Technical and Adult Education
Technical and Adult Education Technical and Adult Education Technical and Adult Education Technical and Adult Education
Technical an Adult Education

20 For design and construction to renovate the Administration Building for Clayton College and State University.
20 $5,000,000 in minor capital outlay projects at Southern Polytechnic
5 For the Student Center at Georgia Perimeter College.
20 To construct the Henry County McDonough library.
20 To construct the Auburn public library.
20 To construct the Tifton-Tift County public library.
5 Continue funding for procurement of an integrated tax system.
20 Design and construct the Technology Building, Savannah Technical College.
20 Design and construct the Classroom Building, Paulding County Campus, Chattahoochee Technical College.
20 Design and construct the Classroom Building, Douglasville Campus, West Central Technical College.
20 Design, construct, and purchase equipment for the renovation of the Alma Center, Alma Campus, Okefenokee Technical College.
20 Design, construct, and purchase equipment for the Commercial Truck Driving and Fire Science Building, Ogeechee Technical College.
20 Design and construct the Allied Health Building, Okefenokee Technical College.
20 Fund statewide major renovations and rehabilitation.
20 Construction of an Industrial Training Building at Flint River Technical College.
20 Construction of a Child Development at Middle Georgia Technical College in Warner Robins.
20 Albany Technical College: Renovate construction academy former Carlton Building.

305,000
2,000,000 20,000
1,035,000 810,000
1,765,000 185,715,000
3,000,000 3,000,000 2,000,000 1,000,000
4,995,000
2,115,000
1,620,000
1,000,000 7,000,000
550,000 3,300,000
200,000

Technical and Adult Education
Technical and Adult Education
Technical and Adult Education Technical and Adult Education
Technical and Adult Education Total World Congress Center World Congress Center Total Grand Total

20 Expansion of the Crisp County Center at South Georgia Technical College.
20 Design and construct the Classroom Building, Forsyth County Campus, Lanier Technical College.
20 Atlanta Technical College: Allied Health Building.
20 Design and construct an Allied Health and Technology Building at North Metro Technical College.
20 Fund various facility renovation projects.
5-Year Bonds: 20-Year Bonds: Total Bonds:
# # #

800,000
1,000,000
1,000,000 1,000,000
27,580,000 5,425,000 5,425,000 578,765,000 46,520,000 532,245,000 578,765,000