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Roswell approves second bond tranche, reallocates proceeds to parks and public safety
Summary
The Roswell Mayor and City Council unanimously approved a resolution to issue general obligation bonds (Series 2025A) and a budget amendment to allocate proceeds from a second tranche of voter-approved bonds; the sale drew stronger-than-expected interest and a 4.39% effective rate.
The Roswell Mayor and City Council on June 30 approved a resolution to issue general obligation bonds Series 2025A and a budget amendment (BA314620000063025) to appropriate the proceeds from a second bond tranche approved by voters in November 2022.
The action, moved by Council member Alan Sells and seconded by Council member Christine Hall, passed 6-0.
City Chief Financial Officer Bill Gottschall told the council the city initiated a second tranche in April 2025 to raise $93,400,000 tied to the November 2022 bond questions covering public safety and parks and recreation. Gottschall said the bond offering began that afternoon and drew 14 bids by 12:05 p.m., above the expected 8–10 bidders, with an effective interest rate of 4.39% (the city had anticipated about 4.5%). Gottschall said, “We expected 8 to 10. So it was excessively high interest in our our bond offering. We expected a bid rate of 4.5%. We came in at 4.39%, so much much lower, which is a interest rate world, a good a good result.”
Gottschall outlined the allocation: the parks, recreation, bicycle and pedestrian projects will receive approximately $66,000,000 after balancing; public safety projects will receive approximately $29,200,000 after rebalancing and recognizing premiums and earned interest from the sale. He said the sale produced premiums and accumulated interest that increased available sources before issuance costs and underwriting discounts were applied.
The council heard no public comment on the item before voting. Bond counsel Jim Woodward was present for questions, and Gottschall recommended approval of the resolution and budget amendment to set up the bond proceeds.
The council’s vote authorizes the city to accept the bond proceeds and directs staff to appropriate them under the referenced budget amendment. There was no additional policy direction recorded at the meeting; next steps are administrative: finalize issuance paperwork and implement the approved appropriations.
