Lake Oconee Academy, Inc. is a nonprofit corporation, and pursuant to a contract with the Greene County Board of Education, the Academy operates a local, public charter school in Greene County.1 To finance the construction of a facility for the use of the Academy, the Greene County Development Authority proposed in 2014 to issue $14 million in revenue bonds.2 In connection with its proposal to issue these bonds, the Authority entered into an intergovernmental agreement with Greene County, whereby the County contracted to pay amounts over to the Authority for repayment of the indebtedness on the bonds, amounts that the County contemplated would be raised by an ad valorem tax. The Authority also proposed a lease agreement with the Academy, whereby the Academy generally would have use of the facility for so long as the indebtedness on the bonds remained outstanding, and the Authority would sell the facility to the Academy for $1 when that indebtedness was retired. The State of Georgia filed a petition to validate the bonds, and several Greene County residents intervened to object to validation. Following a hearing, the trial court refused validation on several grounds. The County, the Authority, and the Academy appeal, and we affirm.
When presented with a petition for the validation of revenue bonds, a trial court must consider whether the proposal to issue those bonds is “sound, feasible, and reasonable.” Berry v. City of East Point, 277 Ga. App. 649, 650 1 627 SE2d 391 2006. The trial court in this case found that the Authority’s proposal was not sound, feasible, and reasonable, and it refused validation on the basis of that finding, among other grounds. As this Court has explained before, whether a proposal to issue bonds is sound, feasible, and reasonable is a question for the trial court, and its findings about soundness, feasibility, and reasonableness must be sustained on appeal if there is any evidence to support them. Copeland v. State, 268 Ga. 375, 379 5 490 SE2d 68 1997. See also Hay v. Newton County, 273 Ga. App. 423, 423 615 SE2d 234 2005; Carter v. State of Ga., 93 Ga. App. 12, 20-21 7 90 SE2d 672 1955. Although the record in this case might not have demanded a finding that the Authority’s proposal was not sound, feasible, and reasonable, we conclude that it permitted such a finding. Cf. Carter, 93 Ga. App. at 20-21 7 “It is sufficient to say that while the evidence does not demand a finding that the project is reasonable, sound and feasible, yet it is sufficient to authorize such finding . . ..”.
