HomeMy WebLinkAboutPERFORMANCE AUDIT 2006
RESOLUTION
A RESOLUTION TO W AIVK. THE PERFORMANCE AUDIT FOR THE
AUGUSTA, GEORGIA GENERAL OBLIGATION BONDS, SERIES 2006.
WHEREAS, O.C.G.A. 36-82-100 was recently enacted to require a "performance
audit" by a political subdivision undertaking to issue general obligation bonds subsequent
to the effective date of said code section; and
WHEREAS, said law provides for a waiver of said performance audit requirement
if Augusta authorizes and publishes a "waiver of public accountability". Attached hereto
is a Notice constituting said waiver.
NOW THEREFORE BE IT RESOLVED, the Clerk of Commission is authorized
and directed to publish said Notice in the form attached hereto as Exhibit "A" and on the
schedule provided in the law, to wit: one publication during the week of July 24th and
one publication during the week of July 31 st in the legal organ for Augusta, Georgia.
ADOPTED, this JJt- day o~ ,2006.
Augusta, Georgia
By cfb4 ~
.stir as i1s Mayor
:;;fi~
. lerk of Co' . ssion
,.' \ \'..
. ,-<>~:(, (SEAL)
< \ - ~ (
NOTICE TO THE PUBLIC
YOU ARE HEREBY NOTIFIED that the AUGUSTA, GEORGIA GENERAL
OBLIGATION SALES TAX BoNDS, SERIES 2006 (the "Bonds"), in the aggregate principal .
amonnt of $44,000,000 which were authorized by a majority of the qualified voters in an
election held in Augusta on November 8, 2005 will be issued on or about August 17, 2006.
The Bonds are being issued to finance a portion of the cost of an exhibit hall and the
expansion of the Webster Detention Center. Pursuant to Section 36-82-100 of the Official
Code of Georgia, certain issuers of revenue or general obligation bonds are required. to
provide for continuing performance audits or performance reviews with respect to the
expenditure of bond proceeds. Augusta, as required by law, annually prepares a complete
set of audited financial statements of Augusta which would include an accounting for the
proceeds of the Bonds. Augusta is permitted to waive the audit and reporting requirements
of 36-82-10 upon the publication of a waiver of public accountability. This notice
constitntes such waiver. NO PERFORMANCE AUDIT OR PERFORMANCE REVIEW
SHALL BE CONDUCTED WITH RESPECT TO THE AUGUSTA, GEORGIA
GENERAL OBLIGATION SALES TAX BONDS, SERIES 2006. Questions or comments
regarding this notice should be directed to Donna WiUiams, Director of Finance, 530
Greene Street, Augusta, Georgia, 30911.
fJ;b
This the 18th day of July, 2006.
AUGUSTA, GEORGIA