Summary

Council approves $4M direct-placement bonds

AtlantaJun 24, 20263 min read

At a glance

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The Atlanta City Council unanimously adopted substitute ordinances authorizing up to $4,000,000 in Series 2026 and Series 2027 general obligation bonds via direct placement to Huntington National Bank, and amended the FY2026 and FY2027 budgets to anticipate and appropriate the bond proceeds and related expenses. The measures were sent to the Mayor post haste.

Committees mentioned

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Atlanta City Council

Topics discussed

Budget & Tax

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What this means

The council approved borrowing up to $4 million twice (for Series 2026 and Series 2027) through a direct sale to a bank and updated the city budgets to reflect those proceeds and $150,000 in related costs. The ordinances also authorize routine steps for issuing the bonds, such as naming a bond registrar, creating a fund for the proceeds, and preparing a tax digest to levy whatever tax is needed to pay the bonds. These approvals were unanimous among members present and have been forwarded to the Mayor for final action.

Key decisions

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Adopted substitute ordinance 26-O-1315 to amend the FY2027 budget by anticipating and appropriating up to $4,000,000 in general obligation bond proceeds and $150,000 in related expenses; adopted on substitute by roll call vote 9–0.
Adopted substitute ordinance 26-O-1317 to amend the FY2026 budget by anticipating and appropriating up to $4,000,000 in general obligation bond proceeds and $150,000 in related expenses; adopted on substitute by roll call vote 9–0.
Adopted substitute ordinance 26-O-1374 to supplement ordinance 26-O-1268, authorizing the sale of up to $4,000,000 in Series 2026 general obligation bonds by direct placement to Huntington National Bank and approving related actions (registrar, bond form, tax digest, deposit of proceeds); adopted on substitute by roll call vote 9–0.
Adopted substitute ordinance 26-O-1375 to supplement ordinance 26-O-1269, authorizing the sale of up to $4,000,000 in Series 2027 general obligation bonds by direct placement to Huntington National Bank and approving related actions; adopted on substitute by roll call vote 9–0.
Council substitutions for the ordinances were adopted unanimously and the approved measures were sent to the Mayor post haste.
Adopted the meeting agenda by unanimous consent of members present.

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Meeting information

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Atlanta City Council - Special Called Meeting

Jun 24, 2026, 12:30 PMcompleted

Agenda

26-C-5058 : A COMMUNICATION FROM COUNCIL PRESIDENT MARCI COLLIER OVERSTREET CALLING A SPECIAL CALLED MEETING OF THE ATLANTA CITY COUNCIL ON WEDNESDAY, JUNE 24, 2026 AT 12:30 P.M. (26-O-1315, 26-O-1317, 26-O-1374 & 26-O-1375 ).
Decision: Communications
26-O-1315 : AN ORDINANCE BY FINANCE/EXECUTIVE COMMITTEE AS SUBSTITUTED BY THE ATLANTA CITY COUNCIL TO AMEND THE CITY OF ATLANTA FISCAL YEAR 2027 BUDGET BY ANTICIPATING AND APPROPRIATING BOND PROCEEDS IN THE AMOUNT OF UP TO FOUR MILLION DOLLARS AND ZERO CENTS ($4,000,000.00) IN AGGREGATE PRINCIPAL AMOUNT AND RELATED EXPENSES IN THE AMOUNT OF ONE HUNDRED AND FIFTY THOUSAND DOLLARS AND ZERO CENTS ($150,000.00), FOR THE ISSUANCE OF THE CITY OF ATLANTA GENERAL OBLIGATION BONDS PURSUANT TO ORDINANCE 26-O-1269 (THE SERIES 2027 GENERAL OBLIGATION BOND ORDINANCE) AND ORDINANCE 26-O-1375 (THE SERIES 2027 GENERAL OBLIGATION BOND SUPPLEMENTAL PRICING ORDINANCE); AND FOR OTHER PURPOSES.
Decision: Legislation For Consideration
26-O-1317 : AN ORDINANCE BY FINANCE/EXECUTIVE COMMITTEE AS SUBSTITUTED BY THE ATLANTA CITY COUNCIL TO AMEND THE CITY OF ATLANTA FISCAL YEAR 2026 BUDGET BY ANTICIPATING AND APPROPRIATING BOND PROCEEDS IN THE AMOUNT OF UP TO FOUR MILLION DOLLARS AND ZERO CENTS ($4,000,000.00) IN AGGREGATE PRINCIPAL AMOUNT AND RELATED EXPENSES IN THE AMOUNT OF ONE HUNDRED AND FIFTY THOUSAND DOLLARS AND ZERO CENTS ($150,000.00), FOR THE ISSUANCE OF THE CITY OF ATLANTA GENERAL OBLIGATION BONDS PURSUANT TO ORDINANCE 26-O-1268 (THE SERIES 2026 GENERAL OBLIGATION BOND ORDINANCE) AND ORDINANCE 26-O-1374 (THE SERIES 2026 GENERAL OBLIGATION BOND SUPPLEMENTAL PRICING ORDINANCE); AND FOR OTHER PURPOSES.
Decision: Legislation For Consideration
26-O-1374 : AN ORDINANCE BY COUNCILMEMBER JASON H. WINSTON AS SUBSTITUTED BY THE ATLANTA CITY COUNCIL SUPPLEMENTING THAT CERTAIN ORDINANCE (26-O-1268) ADOPTED BY THE ATLANTA CITY COUNCIL ON MAY 18, 2026 AND APPROVED BY THE MAYOR ON MAY 19, 2026 TO, AMONG OTHER THINGS, PROVIDE FOR: (1) THE SALE DURING FISCAL YEAR 2026 OF UP TO FOUR MILLION DOLLARS AND ZERO CENTS ($4,000,000.00) IN AGGREGATE PRINCIPAL AMOUNT OF CITY OF ATLANTA GENERAL OBLIGATION BOND (THE “SERIES 2026 BOND”) THROUGH A DIRECT PLACEMENT TO THE HUNTINGTON NATIONAL BANK; (2) TO AUTHORIZE THE EXECUTION AND DELIVERY OF SAID SERIES 2026 BOND; (3) TO AUTHORIZE THE NAMING OF A BOND REGISTRAR AND PAYING AGENT FOR SAID SERIES 2026 BOND; (4) TO AUTHORIZE THE ADOPTION OF A FORM TO WHICH SAID SERIES 2026 BOND SHALL ADHERE; (5) TO AUTHORIZE THE PREPARATION OF A TAX DIGEST AND THE LEVY OF A TAX SUFFICIENT TO PAY THE PRINCIPAL OF AND PREMIUM, IF ANY, AND INTEREST ON SAID SERIES 2026 BOND; (6) TO AUTHORIZE THE CHIEF FINANCIAL OFFICER TO DEPOSIT THE PROCEEDS OF THE SERIES 2026 BOND INTO A FUND TO BE CREATED BY THE CITY; (7) THE RATIFICATION OF THE DISTRIBUTION OF A SOLICITATIONS OF BIDS; AND FOR OTHER RELATED PURPOSES.
Decision: Legislation For Consideration
26-O-1375 : AN ORDINANCE BY COUNCILMEMBER JASON H. WINSTON AS SUBSTITUTED BY THE ATLANTA CITY COUNCIL SUPPLEMENTING THAT CERTAIN ORDINANCE (26-O-1269) ADOPTED BY THE ATLANTA CITY COUNCIL ON MAY 18, 2026 AND APPROVED BY THE MAYOR ON MAY 19, 2026 TO, AMONG OTHER THINGS, PROVIDE FOR: (1) THE SALE DURING FISCAL YEAR 2027 OF UP TO FOUR MILLION DOLLARS AND ZERO CENTS ($4,000,000.00) IN AGGREGATE PRINCIPAL AMOUNT OF CITY OF ATLANTA GENERAL OBLIGATION BOND (THE “SERIES 2027 BOND”) THROUGH A DIRECT PLACEMENT TO THE HUNTINGTON NATIONAL BANK; (2) TO AUTHORIZE THE EXECUTION AND DELIVERY OF SAID SERIES 2027 BOND; (3) TO AUTHORIZE THE NAMING OF A BOND REGISTRAR AND PAYING AGENT FOR SAID SERIES 2027 BOND; (4) TO AUTHORIZE THE ADOPTION OF A FORM TO WHICH SAID SERIES 2027 BOND SHALL ADHERE; (5) TO AUTHORIZE THE PREPARATION OF A TAX DIGEST AND THE LEVY OF A TAX SUFFICIENT TO PAY THE PRINCIPAL OF AND PREMIUM, IF ANY, AND INTEREST ON SAID SERIES 2027 BOND; (6) TO AUTHORIZE THE CHIEF FINANCIAL OFFICER TO DEPOSIT THE PROCEEDS OF THE SERIES 2027 BOND INTO A FUND TO BE CREATED BY THE CITY; (7) THE RATIFICATION OF THE DISTRIBUTION OF A SOLICITATIONS OF BIDS; AND FOR OTHER RELATED PURPOSES.
Decision: Legislation For Consideration