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Sandy Springs presents budget with planned $50 million debt issuance for fire-station projects
Summary
City staff presented a proposed fiscal-year budget that increases revenues about 5% while planning a roughly $50 million debt issuance to finance two new fire stations and an addition, keeps a conservative reserve policy, and holds several capital and operating decisions for later council action.
Sandy Springs city staff presented the city’s formal recommended budget on May 27, saying revenues are projected to rise about 5% while general-fund expenditures are expected to rise roughly 2% over the current year.
The presentation, led by staff member Tony Mitton to the mayor and council, said the proposal includes a planned debt issuance of about $50,000,000 that would fund replacement of Fire Station 4 and Fire Station 1 and an addition to Station 3. Mitton said the city has built those borrowings into capital assumptions and that debt-service costs were offset in the proposed spending plan.
Why it matters: the planned debt issuance is the largest new borrowing in the proposed budget and would enable multi-year capital work on public-safety facilities that staff told council are priorities.
In addition to the fire-station…
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