Why is debt retirement not included in the 2002 SPLOST like it was in the 1997 program?
A. In 1997, almost $38 million in bond debt was “callable,” meaning it could be paid off without a penalty. That is why the 1997 SPLOST program included retirement of long-term debt. The 2002 SPLOST program does not include debt payment because there is no signficant benefit to taxpayers of paying off the small amount of debt that could be paid off at this time. The Board chose to allocate more of the sales tax revenue to building classrooms instead.
