ATLANTA — The Georgia Senate passed a local bill March 20 that would require a voter referendum for certain City Schools of Decatur bonds over $20 million. The bill is now in the House awaiting action.
Sen. Elena Parent, D-Atlanta, filed Senate Bill 625 on March 17. The bill says if the Decatur Public Facilities Authority were to issue revenue bonds to City Schools of Decatur over $20 million, voters would have to approve the issuance through a referendum.
CSD asked for a $52 million bond from the city’s Public Facilities Authority to build an Early Childhood Learning Center at 346 W. Trinity Place and make improvements at Decatur High School. The PFA approved the bond in October, and it was validated in December, but the funds have not been disbursed yet. The school district plans to repay the bond over 30 years using sales tax revenue at an interest rate not exceeding 6%.
Read this story now for free
To continue reading, sign up for our newsletter and get unlimited access to WABE.org
You can select your preferences for news and local content. We will never share your email address. Learn how your newsletter sign-up will support WABE and Public Media
