Horry County School District, South Carolina
Our advisors have provided advisory services to Horry County School District since 2003. Our team was instrumental in working with District officials to implement a local, District-wide $0.01 sales tax. Collections from the tax have been used to lower local property tax rates and to fund capital projects. In 2015, Compass worked with the District to develop a capital funding plan to support the construction of five new energy positive schools within the District. The total cost of the project was $250,000,000, with each state-of-the-art facility designed to generate more energy than is needed to operate the school.
Compass worked with District officials to develop a financing plan that utilized a mix of bonding and sales tax collections that would be utilized on a pay as you go basis. This innovative structure allowed the District to take advantage of growing sales tax collections to fund the projects with no local tax increase. The multi-issue bonding structure utilized a mix of general obligation debt and special obligation bond issues to fund specific equipment related expenses.
SCOPE OF SERVICES
Long Term Capital Planning