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Roswell to use Public Facilities Authority financing to close on Spruill park property; council moves IGA forward
Summary
City staff told council the Public Facilities Authority will be used as the conduit to finance a 25‑acre Spruill property purchase and that bids from banks are due July 30; council agreed to add the IGA to the August agenda so the PFA can select financing and the city can meet a Sept. 29 closing date.
The City of Roswell will seek long‑term financing through the Roswell Public Facilities Authority to fund the purchase of the 25‑acre Spruill property, Chief Financial Officer Bill Godshall told the mayor and council at the committee meeting July 29. Godshall said the city must have funding in hand to close by Sept. 29, 2025.
City staff said they issued an RFP to banks asking for 15‑ and 20‑year fixed‑rate proposals and expected responses the next day. Godshall described a compressed schedule: evaluation with the city’s financial advisor on Aug. 1, a PFA meeting to select a bidder and adopt the intergovernmental lease/IGA, then a council resolution in the regular meeting schedule to authorize the IGA and begin the…
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