Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
South Fulton authority OKs $96.285 million bond; bank funds deal without removing millage cap
Summary
The Public Facilities Authority approved $96.285 million in revenue bonds to finance new police and fire facilities; Regions Bank agreed to fund the bonds under the city’s existing millage cap, and the City Council later approved the intergovernmental contract tying the debt to the city.
The Public Facilities Authority on Sept. 9 authorized $96,285,000 in revenue bonds to pay for a police headquarters, a fire-rescue headquarters and a training center, and the City Council later approved an intergovernmental contract that secures that debt to the City of South Fulton.
The bond resolution passed at a Public Facilities Authority meeting earlier in the afternoon by a 5-0 vote and was followed at the council’s regular meeting by approval of the intergovernmental contract and related documents by the council in its consent-vote cycle.
The city manager, Sharon D. Subadan, told the Authority that the bonds will fund “the cost of acquiring, constructing, and equipping the City of…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
