To fund necessary repairs and upgrades at city-owned facilities and finance two existing loans, the Peachtree City Council is expected to sign off on a revenue bond for up to $6 million at its regular meeting Thursday night.
The bond will include $3 million in improvements and the refinancing of two loans totaling $6 million. The loan refinancing will save the city a projected $148,000, officials said.
The city will be on the hook for repaying the bonds, with the debt service for the bonds and refinancing estimated to cost $634,000 a year over a 10-year period. Read More»