City staff told the mayor and council Sept. 22 that the city is preparing to pursue a loan through the Georgia Municipal Association to address potential SPLOST cash-flow timing issues. Staff described the loan as a stopgap to avoid placing strain on SPLOST receipts and said the initial planning assumes about $4,000,000 in borrowing.

Staff explained the bank and GMA will require a survey and legal description of the improvements to be used as collateral, and that the transactional process must follow the public-notice rules for property sale and assignment even though staff do not expect third-party bidders to outbid GMA. "We will need to get a survey of the improvements," staff said, adding the city will send notices and hold public hearings as required and that the property would be assigned to GMA while the loan is outstanding.

Staff said bids and the public hearing process would be completed and brought back to the council for approval; they did not expect the process to conclude in November and are targeting the first meeting in December for council action. No formal motion or vote was recorded in the work session.