A general obligation is . The five-year bond would help fund at .
The in a 2013 referendum, as the sales tax revenue will be used pay off the auditorium debt. If city voters approve the five-year bond, construction should be done sometime in 2013.
If the 2012 bond passes but SPLOST IV fails, owners of homes valued at $200,000 will face a tax increase of about $11 a year to pay off the bond, starting in 2015.
Rejecting the 2012 bond would delay the project until the 2013 SPLOST IV vote. A yes at that point would allow construction to begin in 2014; a no vote would shelf the project indefinitely.