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City hears plan to use SPLOST-backed bonds to jump-start Decatur Square transformation
Summary
Davenport & Company outlined a plan for a competitive public sale of SPLOST-backed bonds to finance an estimated $8 million of Decatur Square work, describing rating, issuance timing and an illustrative non-callable 5% coupon structure that would produce roughly $1.8 million in annual debt service under current assumptions.
City financial advisers from Davenport & Company presented a proposed plan of finance for borrowing against the renewed SPLOST to help pay for the Decatur Square transformation.
Doug Gephart told commissioners that following the Nov. 23 SPLOST renewal — which staff said carried broad local support — the city may issue up to $10 million of general obligation debt authorized by voters and could use a competitive public sale to achieve the…
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