To fund necessary repairs and upgrades at city owned facilities and re-finance two existing loans, the Peachtree City Council Thursday night approved the sale of $6 million in revenue bonds.
The bond issue will cover $3 million in improvements and the refinancing of two existing loans.
The city got an outstanding interest rate of 2.16 percent, thanks to the city’s excellent credit rating, officials said. And when paired with the payoff of another bond series earlier this year, the net increase on debt service is only $165,000 a year, according to Finance Director Paul Salvatore. Read More»