Georgia Schools Tap New Source For Construction.

Web Abstract: 
In 1996, Georgia voters approved a measure that gave local districts access to a 1-cent sales tax for school construction and renovation, to be charged in addition to an existing state sales tax of 4 cents and other local sales taxes. One of the benefits of the new source of funds--called the Educational Local Option Sales Tax, or ELOST--is that a pay-as-you-go system of building schools can save districts millions of dollars in interest charges. By comparison, because schools receive an annual lump sum from property taxes, they must borrow money by selling bonds until those revenues come in. Schools have more ready access to sales-tax revenues, which come in monthly. [Free subscriber registration is required.]
Jacobson, Linda
Education Week
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