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 the final piece of a larger plan to finance the $14 million total needed for this first phase of 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 November 5, 2018, on this proposed bond issuance. Passage of this ordinance would authorize levying taxes to service the $2 million general obligation bonds, series 2018, for street improvements.

Approval