The $48.6 million revenue bonds issued by the City of Sandy Springs to build two new fire stations and construct an addition for a third station received an AAA rating from S&P Global Rankings.
The city plans to build a new Fire Station No. 4 within the city limits on Roswell Road, a replacement Fire Station No. 1, and an addition to Fire Station No. 3.
The firm said the ranking came as the city has demonstrated fiscal prudence and economic resilience, according to a news release. The city’s large, diverse, growing tax base, robust reserve fund with a manageable debt and liabilities profile, coupled with a sound pay-go capital program, helped the city attain the ranking.
City holds millage rate steady
The Sandy Springs City Council held two final millage rate hearings on Aug. 19 before voting to adopt the same rate it has used for the past 20 years.
The 4.731 mill rate was established in the city charter. The council can only raise the millage rate with voter approval. It can roll back the rate on its own.
An increase in the property tax digest caused a property tax increase of 0.71 percent despite no changes to the millage rate.