(Marietta, Ga. – Sept. 8, 2015) In today’s Cobb Board of Commissioners’ meeting, commissioners approved issuance of the $10 million South Cobb Redevelopment Authority Revenue Bonds.
Last week the county received final bids and the vote approved the issuance of the Series 2015 Revenue Bonds to Baird & Company, which submitted the lowest bid.
Also, last week, the South Cobb Redevelopment Authority unanimously approved issuing the $10 million revenue bonds which will finance various redevelopment and infrastructure improvements within the 2,800-acre Six Flags Special Services Tax District (District) with a 5-0 vote. The District was created by the Board of Commissioners last year. The revenue bonds are expected to pre-close on Sept. 16.
The revenue bonds will be utilized for infrastructure improvements and to purchase properties inside the District for redevelopment purposes. The property owners within the District will be assessed an additional 3.5 mills on their property to fund the annual debt service of the revenue bonds. The District encompasses the southern tip of the county to just north of Interstate 20.