By DAVE HAMRICK
dhamrick@TheCitizenNews.com

Fayette's new Public Facilities Authority will be keeping a wary eye on bond markets in the coming weeks, waiting for the right time to issue up to $60 million in bonds for the county's jail and courthouse construction project.

County commissioners last week named Jack Smith, Chuck Watkins and Mary Shavers to the three-person board charged with raising money for county building projects.

The appointments must be renewed annually as long as any debt the board has arranged remains to be paid.

A meeting to choose a chairman and organize the authority has not yet been set. County attorney Bill McNally said this week he expects the task of getting organized and getting the bonds issued will take 60 to 90 days.

A Public Facilities Authority has existed for years, but has been dormant. Commissioners voted to activate it last year during discussions of possible funding methods for the judicial complex, and last week approved using the PFO as the method to fund the jail and courthouse project.

Smith is a CPA and has experience with development authorities; Watkins serves on the county Water Committee and is a past commissioner; Shaver is retired as an engineer with the Pacific Gas and Electric company.

Commissioners also appointed five members to the newly created Hospital Authority. They are Jack Krakeel, Dr. Karen Harris Moore and Tom Farr for four-year terms, and Joan Smith and Darrell McKinney for two-year terms.

Function of the Hospital Authority is similar to that of the Facilities Authority. The board will arrange financing for improvements to Fayette Community Hospital.

Smith is a staff nurse for Emory Hospital and holds a master's of science in nursing. McKinney is retired as management and budget regional commissioner for the Social Security Administration and a retired lieutenant colonel in the U.S. Army Reserves.

Farr, a well-known local banker, is on the county Development Authority Board of Directors and Peachtree City's Airport Authority.

Krakeel is Fayette County's “super chief,” director of the Department of Fire and Emergency Services.