Roswell has formed a public facilities authority for the purpose of issuing bonds to raise capital for city-owned development projects.
Gov. Brian Kemp approved House Bill 1501 in May to allow for the formation of the Roswell Public Facilities Authority.
Roswell City Council approved establishing the Authority during a regular meeting on Monday. Councilmembers will serve on the authority and appoint a resident to serve for a four-year term.
Councilman Allen Sells said the bond revenue through the Authority could eliminate the need for residents’ property taxes.
It would also help pay for such projects as a stadium or a parking deck, he said. Sells and fellow officials did not say if the new Authority would issue bonds to pay for a new soccer stadium.
Roswell and the United Soccer League plan to build a stadium for professional women’s and men’s soccer teams.
Resident Jason Yowell asked the council members why the authority is necessary to issue bonds considering voters approved a $20 million bond referendum in 2022 for the development of a downtown parking deck.
“Will it have to go before the public for a vote to authorize the bond issue or is this authority outside of that necessity for public approval,” Yowell said. “Nobody has explained to the public what the purpose of this is, what are it’s limitations. I’d like to know. I’m sure other people would like to know as well.”
The officials did not say if the public will have the ability to approve bond issuances as voters did in 2022.
The Public Facilities Authority will hold open meetings and executive sessions when necessary, similar to council meetings.
Nearby Sandy Springs established a public facilities authority in 2006. Sandy Springs pays the authority rent for use of public spaces such as City Hall, according to the city website.
The “pledge of the future rent payments” allows Sandy Springs to raise capital for bond issuances.
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