Franklin officials outline $48 million general obligation bond plan, no vote taken due to lack of quorum

City of Franklin staff and outside bond advisers on Thursday presented two companion authorizing resolutions — 2024-116 and 2024-117 — that, if approved by the Board of Mayor and Aldermen, would allow the city to issue up to $48,000,000 in general obligation bonds to finance parks, major road resurfacing and public safety equipment.

The presentation to the Budget & Finance Committee did not include a vote because the committee lacked a quorum. Staff said the two resolutions will be discussed at a Board work session on Jan. 28 and considered at the Board of Mayor and Aldermen meeting on Feb. 11.

The bond package covers four project categories, including replacement fire apparatus, a major road-resurfacing program, Southeast Park Phase 1 and McEwen Drive Phase 4. Michael Walters Young, chief budget performance officer, said $30,000,000 of the request is intended for Southeast Park Phase 1 of an estimated $64,800,000 project cost; about $12,000,000 has already been spent on the project, primarily for a bridge. McEwen Phase 4 carries an estimated all-in cost of $55,400,000, of which staff said about…