Wednesday, April 25, 2001
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Wednesday, April 25, 2001 |
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PTC to get tax hike, bonds or not By JOHN MUNFORD
The Peachtree City Council plans to ask voters to approve up to $10.2 million in bond issues to refinance existing debt and fund numerous recreation-related projects, including a $2.5 million addition to the city tennis center that would create six covered tennis courts. But even if voters shoot down those proposals, there's a strong chance most of the recreation projects will be funded anyway. Additionally, regardless of whether any bond proposals are approved by voters, Peachtree City residents will likely face an impending increase in their property taxes. In documentation to City Council, City Manager Jim Basinger explained that a millage rate increase was needed to fund the acquisition of Drake Field and the increased debt service on the Bricks and Mortar funded projects, which includes Peachtree City's new police station. Basinger said the "rough" estimated millage increase is for .21 mills, which would raise $267,000. This would help cover the additional debt service of $289,000 and a $225,000 payment for the Drake Field purchase. The Drake Field area had been zoned commercial before the city agreed to purchase the land so it could remain open space for a park. The total purchase price was $1.25 million for the 10 acres of land adjacent to City Hall that abuts Lake Peachtree. Recreation projects likely to be paid for by the city, bonds or not, include the addition to the tennis center, Lenox said. Another big-ticket item in that list of recreation projects is a $1.2 million expansion of the Kedron recreation facility for a new basketball court and a new gymnastics area. "We're committed to that $5 million for that stuff," Lenox said of the recreation projects that actually total $4.73 million, including the tennis center. "We're asking them (the voters) to approve financing." The council has already approved the recreation projects through the public improvement plan for 2002-2004, Lenox said. The city has also decided how to fund those projects, but the bond issue would allow for money to be saved, Lenox added. If the bonds are not approved, the city could afford to do all the smaller recreation projects out of existing income, except for the expansion of the Kedron recreation facility, improvements to Drake Field (possibly including a lighted boardwalk along the lake) and the $5.5 million multi-purpose community center, said Paul Salvatore, the city's finance director. Councilman Steve Rapson said he would rather the tennis center expansion and Kedron recreation expansion be separate questions on the ballot. If the voters turn it down, the city shouldn't fund the project, Rapson said. "We have to respect their wishes," Rapson told his fellow council members. "We have already planned to build everything except that community center," Lenox said. Using the bond issue for financing would help the city save money, the mayor argued. Salvatore, the city's finance director, said it is not clear at this point how the bonds will be presented to the voters. It is clear that council intends to put the bond issue before voters. At last Thursday night's meeting, council selected attorney Earl Taylor of the Kilpatrick and Stockton law firm as the city's bond attorney. Council also approved A.G. Edwards as the city's bond underwriter. "They know us and we know them, and time is of the essence," said City Manager Jim Basinger. Council also approved hiring the same company that designed the Kedron Fieldhouse to design the expansion.
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