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Roswell City Council to Discuss Potential Bond

The council will meet Monday, Aug. 6, at 5 p.m. in room 220 of Roswell City Hall.

Despite it being an off week for , the elected body will meet Monday, Aug. 6, for a special called work session regarding a possible bond referendum to be placed on the ballot this November.

The referendum would presumably ask local residents whether or not they would approve two $12 million bonds - or $24 million in total - to be used toward capital fund projects.

In a letter addressed to Roswell Mayor Jere Wood and Roswell City Council members, the city's Director of Finance Keith Lee said the focus of the meeting would be to go over . The city will be paying off its current bonds in 2014 and 2015. Funding large projects to encourage and improve economic development within Roswell, was among the reasons some council members.

Not everyone agrees. .

In a February survey, Roswell Patch asked residents whether they were in favor of a bond and what they would like to see money go toward. . Those who were in favor mostly supported the following projects:

  1. Holcomb Bridge Road at 400 Improvements
  2. Sun Valley-Old Ellis Connector
  3. Holcomb Bridge Road Multi-Use Trail
  4. Eves Road Multi-Use Path
  5. Riverwalk Phase V

Performing Arts enhancements were listed among the least supported of the proposed projects.

The council will meet Monday, Aug. 6, at 5 p.m. in room 220 of Roswell City Hall, 38 Hill Street, to discuss the referendum.

janet h russell August 03, 2012 at 02:53 PM
Except for one all of these improvements are on the East side of Ga 400. Wonder why? Since that is the newer part of the city you would think it would have fewer needs than the older, original part which is in dire need of help. (not just Canton st.)
Lee Fleck August 03, 2012 at 11:33 PM
The City of Roswell’s proposed $24 million bond referendum that will be on the ballot in November is unnecessary because the City will announce a property tax increase regardless of the outcome of this referendum and they have refused to publically admit that reality when confronted. Mayor Wood is being deceptive when he says “people need to trust government”. Roswell’s current debt service millage rate generates $6.3 million annually and Mayor Wood and City Council plan to roll over this tax revenue into the day to day operations instead of retiring it. Now during the recently concluded fiscal year budget hearings, the City Administrator Kay Love announced that there was an excess in debt payment revenues in the amount of $6.7 million currently in an escrow account available to cover the entire debt payment due next year. Budget Director, Keith Lee, admitted during last Monday night’s “Open Mic” Council meeting that these excess monies are, for all practical purposes, the result of over taxation. When the City begins to roll over the debt service next fiscal year, it will generate an additional $26 million in revenues over the next five fiscal years making the bond referendum unnecessary because sufficient funds will be available for all the projects earmarked on the proposed bond referendum.
lee Turner August 04, 2012 at 01:44 PM
I don't pretend to understand all the ins and outs of this financial stuff, but my jaw dropped when you quoted Mayor Wood saying, "People need to trust government." LMAO!!!! NO! Tell me he didn't say that!!! Tell me this is his last term!
Dianne August 04, 2012 at 02:23 PM
Didn't the City of Roswell get the message from the voters with the results of last week's TSPLOST vote? The voters do not want any new taxes, bond referendums or whatever they choose to name it. The economy is horrible, people are out of work and struggling to make ends meet, and Roswell wants to add bike trails (purely recreational, not transportation related) and walking paths. This is nothing but Sustainable Development which is being stealthily marketed to an apathetic country who doesn't care to be informed about what their local, county, state and federal governments are doing to the citizens and this country. Voters no longer have trust in their government, no matter what some officials may say, according to all of the recent polls.
Lilot Moorman August 04, 2012 at 10:02 PM
Actually, Kristine, the availability of biking and walking trails is a major draw for people considering moving here.

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