230 - Tom Lambert - Dunwoody Trails and Bonds

Podcast 230 - Tom Lambert - Dunwoody Trails and the Bond Vote in November   Dunwoody City Council made 2 big moves this week, approving the Dunwoody Trails Master Plan and calling for a bond vote to help pay for it. The approval puts the decision in the hands of Dunwoody voters on November 7th.   If approved, the City of Dunwoody would work on capital improvements in the following areas using bond funding, along with other revenue sources. Note that the list below is not ranked by preference and is subject to modification based on the needs of the City: Parks: Roberts Drive Park, Homecoming Park on Vermack Drive, Softball Fields, Waterford Park, Brook Run Park Trails: Village Crossroads (Chamblee Dunwoody Road), continuance of the Winters Chapel Multi-use Trail, North Peachtree Road, Mount Vernon Road   This is how you'll read it on the ballot: “Shall the City of Dunwoody, Georgia (the “City”) issue general obligation bonds in an aggregate principal amount not to exceed $60,000,000 for the purpose of financing (a) the acquisition, construction, installation, improvement and equipping of (i) parks and recreational areas, (ii) greenspace and (iii) trails, (b) the costs of issuing the bonds and (c) capitalized interest on the bonds? Such approval shall also constitute an approval of the increase in the City’s current millage cap of 3.04 only to the extent necessary to repay the bonds.”