Greene County Development Authority v. GeorgiaAnnotate this Case
Pursuant to a contract with the Greene County Board of Education, Lake Oconee Academy, Inc. operated a public charter school. The Greene County Development Authority proposed to issue $14 million in revenue bonds to finance a new facility for the school. The Authority entered into an intergovernmental agreement with Greene County whereby the Country contracted to pay the Authority towards the indebtedness on the bonds. The County contemplated those amounts would be paid for by raising an ad valorem tax. The Authority also proposed a lease agreement with the Academy, whereby the Academy would have use of the facility so long as there was indebtedness outstanding. The State filed a petition to validate the bonds, and several Greene County residents intervened to object to the validation. After a hearing, the trial court refused validation on several grounds. The County, Authority and Academy appealed. "The trial court here did not explain in its order exactly why it found that the proposal was not sound, feasible, and reasonable, but the appellants do not appear to have asked for any detailed explanation of that finding, and we can glean from the record some concerns about the proposal that the trial court may have had.[ . . .] the record permitted the trial court to find that the proposal was not sound, feasible and reasonable," and for that reason, the Supreme Court could not say that the trial court erred when it refused to validate the bonds. Accordingly, the Supreme Court affirmed the trial court's judgment.