The Atlanta City Council Finance Executive Committee convened on April 30, 2025, to discuss several key financial matters impacting the city’s budget and debt management strategies. The meeting focused on the use of funds from the city’s property tax levy, equipment leasing agreements, and the implications of potential changes to federal tax policies affecting municipal bonds.

The first significant agenda item addressed the city’s property tax levy, which has accumulated approximately $250 million in an invested sinking fund. The committee proposed using a portion of these funds to establish an escrow account aimed at paying off certain bonds, a process known as defeasance. This strategy is expected to lower the city’s outstanding debt burden and potentially allow for adjustments to the General Obligation (GEO) bond mill rate in future budgets. The committee expressed appreciation for the financial team’s efforts in identifying cost-efficient opportunities to reduce debt.

Following this discussion, the committee moved on to a proposal for a master lease agreement with JPMorgan Chase Bank. This agreement would facilitate the acquisition of new equipment and vehicles for the Department of Public Works (DPW) at a cost not exceeding $7.3 million. The committee emphasized the importance of replacing aging equipment to ensure operational efficiency. A request was made for an itemized list of DPW’s current equipment and its condition to better understand the department's needs.

The committee also discussed the potential impact of proposed federal legislation that could end the tax-exempt status for municipal bonds. The Chief of Treasury Debt Investments highlighted that such a change could significantly increase financing costs for the city and adversely affect smaller communities. The committee acknowledged the ongoing lobbying efforts to prevent this legislation from advancing.

In another agenda item, the committee approved the transfer of 72 Marietta Street from the Department of Enterprise Asset Management to the Department of Watershed Management. This transfer, which includes a payment of $16.75 million from the water and wastewater fund to the general fund, is intended to streamline decision-making regarding the facility's future.

Lastly, the committee reviewed an ordinance to extend the city’s agreement with Invest Atlanta for COVID-19 emergency small business and nonprofit grants. This extension will allow the city to continue supporting economic growth and resilience in the wake of the pandemic.

The meeting concluded with all proposed items being adopted, reflecting the committee's commitment to prudent financial management and strategic planning for the city’s future.