The Chatham County Commission has requested the assistance of the Downtown Savannah Authority (DSA) by the issuance of its Downtown Savannah Authority Revenue Bonds (Chatham County Project), Series 2020.

The proceeds of this issue will provide for:

1) Partial funding of the construction and equipping of a new trial courthouse.

2) Payment of the issuance costs related to the bonds.

Chatham County will enter into a contract with the DSA under which it will pledge to pay all interest and principal for the bonds. As required by State statute, the Authority in turn has made application to the City requesting the City Council's expressed approval for the issuance of such bonds. The approximate amount of the Series 2020 bonds is $83 million.

Under State statute, the Authority's application to the City to issue such bonds must receive two readings before City Council. The first reading is scheduled for the meeting of March 26, 2020. The second reading will occur at the meeting scheduled for April 9, 2020.

This is an announcement only, no action is required