August 31, 2017 City Council Regular Meeting
Motion to Adopt Ordinance to Issue General Obligation Bonds for Downtown Streetscape Improvements

The City's adopted capital improvement plan requires $2 million in capital be provided through the issuance of general obligation bonds to design and construct streetscape improvements to the downtown corridors of Broughton Street, Bay Street and River Street. These improvements will include items such as sidewalks, lighting, signage and other amenities that will enhance the aesthetics, functionality and safety of these corridors. The issuance of these bonds in the amount of $2 million is part of a larger plan to finance the $14 million total needed for the project. 

No assistance from the Downtown Savannah Authority will be required to issue the general obligation bonds, as the City is allowed under state law to issue $2 million in general obligation bonds annually for street improvements. 

City Council held a public hearing on August 17, 2017, on this proposed bond issuance.  Passage of this ordinance would authorize levying taxes to service the $2 million general obligation bonds, series 2017, for street and drainage improvements.



David Maxwell
Financial Impact
Review Comments
Memo to CM regarding 2017 bond issues GO and DSA.pdf
2017 GO Bond ord-tax (v2) 08-10-17.pdf
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