United States: Georgia Election Schedule: Timeline For Local SPLOST Imposition And Bond Issuances

Below is Georgia's statutory election schedule for both special and general elections (collectively, the "Election"), as it applies to local governmental entities (the "Local Entity"), SPLOST impositions ("SPLOST") and Bond issuances ("Bonds"). There are three major timeline periods related to an election involving a Local Entity's imposition of a SPLOST and issuances of Bonds: (1) Prior to the Election, (2) the Election and (3) Following the Election. Below, for each major timeline period, are general descriptions of financing objectives and tasks a Local Entity should consider in order to successfully and timely impose a SPLOST and/or issue Bonds.

Prior to the Election

10-11 Months Prior: Local Entity should start a preliminary list of projects, establish costs, draw schedules and review collection estimates

9-10 Months Prior: Local Entity/underwriter/financial advisor should review (prior and projected) SPLOST collections and establish preliminary bond size, finalize cost estimates and draw schedules (cash-flow requirements)

8 Months Prior: Local Entity needs to review list of projects and provide authorization to proceed with SPLOST and/or Bonds

7 Months Prior: Local Entity approves list of projects in a called meeting; distributes first drafts of Referendum Resolution (if required) and/or financing documents, Notice of Election, etc.

5-6 Months Prior: Comments submitted on distributed documents; Local Entity adopts Referendum Resolution (and then emails it to the Department of Revenue), Notice of Elections and other documents; the Board of Elections adopts Election Resolution

5 Weeks Prior to Election^*: Publish first notice in County legal organ (5x for the 5 weeks prior to the Election), email ballot question to Center for Election Systems at Kennesaw State University

Election Day

Following the Election

Within 6 days – 1 Month from Election: The Local Entity adopts the Election Results Resolution

Within 6 Months from Election: Notice is delivered to the applicable county district attorney commencing the validation process

Footnotes

1. O.C.G.A. § 21-2-540

2. If a special election is held on a general election date, the "Call" for the election must be published at least 90 days prior to the election. The Call is the first election notice. This will apply in Georgia in 2016. Presidential preference primary and general primary dates to be determined.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.