Department
Finance
Requested Action (Identify appropriate Action or Motion, purpose, cost, timeframe, etc.)
title
Request approval of a Resolution of Fulton County, Georgia (the “County”) hereinafter referred to as the “Pricing Resolution” relating to the issuance of its Water and Sewerage Revenue Refunding Bonds, Series 2025 (the “Series 2025 Bonds”), supplementing and amending that certain Parity Bond Resolution adopted by the Board of Commissioners of Fulton County (the “Board of Commissioners”) on September 17, 2025 (the “Series 2025 Parity Bond Resolution”), which Series 2025 Parity Bond Resolution supplemented and amended that certain Amended and Restated Master Bond Resolution adopted by the Board of Commissioners on June 17, 1998 (the “Master Bond Resolution”); confirming and approving the pricing terms and results of the competitive sale relating to the Series 2025 Bonds; ratifying and approving the preparation, distribution and use of a Preliminary Official Statement and a Final Official Statement relating to the Series 2025 Bonds; providing for the execution and delivery of a Continuing Disclosure Certificate; providing for incidental action; and for other purposes. (APPROVED)
body
Requirement for Board Action (Cite specific Board policy, statute or code requirement)
Section 1.150-2 Treasury Regulations, 26 CFR § 1.150-2.
Strategic Priority Area related to this item (If yes, note strategic priority area below)
Open and Responsible Government
Commission Districts Affected
All Districts ☒
District 1 ☐
District 2 ☐
District 3 ☐
District 4 ☐
District 5 ☐
District 6 ☐
Is this a purchasing item?
No
Summary & Background (First sentence includes Agency recommendation. Provide an executive summary of the action that gives an overview of the relevant details for the item.)
Scope of Work: The Board of Commissioners approved Agenda item 25-0713, September 17, 2025 to authorize the issuance of a 2025 Water and Sewerage System Revenue Refunding Bond (Series 2025), to refinance the existing 2013 Water and Sewerage Revenue Refunding bond in order to take advantageous of lower interest rates and amend other bond provisions related to this refinancing. Refinancing the 2013 Water and Sewerage System bonds will save approximately $17 million in present value cost savings in interest and releases funds from the 2013 bond debt service reserve into the System’s renewal and replacement capital fund, as was contemplated in the 2025 rate study assumptions. The requested refinancing was validated in Superior Court on October 28, 2025.
Community Impact: Lower future debt service costs.
Department Recommendation: Recommends approval and acceptance of bid.
Project Implications: Lower debt service costs for Water and Sewerage System customers
Community Issues/Concerns: None
Department Issues/Concerns: None
Fiscal Impact / Funding Source
Funding Line 1:
2013 Water and Sewer debt service fund 270, with new 2025 Water and Sewerage bond debt service fund 273