Newspaper Page Text
NOTICE OF PUBLIC HEARING ON PROPOSED ISSUANCE OF
CITY OF SANDY SPRINGS DEVELOPMENT AUTHORITY
REFUNDING REVENUE BOND (THE ALFRED AND ADELE
DAVIS ACADEMY, INC. PROJECT), SERIES 2013
TO WHOM IT MAY CONCERN:
YOU ARE HEREBY NOTIFIED that on the 17 th day of June, 2013, at 10:00 a.m., in the office of
Wendell K. Willard, Attorney for the City of Sandy Springs Development Authority, at 7840 Roswell
Road, Building 300, Suite 330, Sandy Springs, Georgia 30350, the City of Sandy Springs Development
Authority, through its appointed hearing officer, will conduct a public hearing on the proposed issuance
of a revenue bond to be designated “City of Sandy Springs Development Authority Refunding Revenue
Bond (The Alfred and Adele Davis Academy, Inc. Project), Series 2013,” and on the location and nature
of the proposed facilities to be refinanced.
The bond is to be issued in a maximum aggregate face amount of $10,590,000 to refinance the costs of
acquiring, constructing, renovating, and installing various educational facilities including, without limita
tion, (l) an approximately 72,000 square foot elementary school building, and related facilities located
on an approximately 11.3-acre tract of land at 8105 Roberts Drive in Sandy Springs, Georgia and (2) an
approximately 60,000 square foot middle school building and related facilities located on an approxi
mately 7.8-acre tract of land at 7901 Roberts Drive in Sandy Springs, Georgia. The facilities that are being
refinanced will be owned and operated by The Alfred and Adele Davis Academy, Inc. (the “Borrower”),
a Georgia nonprofit corporation. The City of Sandy Springs Development Authority will issue the bond
on behalf of the City of Sandy Springs, and the facilities that are being refinanced are located in the cor
porate limits of the City of Sandy Springs. The Public Hearing is being held for the purpose of providing
a reasonable opportunity for interested individuals to express their views, both orally and in writing, on
the proposed issuance of the bond and the location and nature of the proposed facilities to be refinanced.
THE BOND SHALL NOT CONSTITUTE AN INDEBTEDNESS OR GENERAL OBLIGATION OF
THE STATE OF GEORGIA OR THE CITY OF SANDY SPRINGS BUT SHALL CONSTITUTE
LIMITED OBLIGATIONS OF THE CITY OF SANDY SPRINGS DEVELOPMENT AUTHORITY,
PAYABLE SOLELYFROM FUNDS PAID BYTHE BORROWERAND SECURED BY COLLATERAL
FURNISHED OR CAUSED TO BE FURNISHED BY THE BORROWER.
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COMMUNITY
Reporter group acquires
Atlanta Intown monthly
Atlanta FUNE2C13
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Springs Publishing LLC has
acquired Atlanta Intown.
Springs Publishing LLC, par
ent company of Reporter News
papers, has acquired the monthly
publication Atlanta Intown. Steve
Levene, the founder of Springs
Publishing and publisher of Re
porter Newspapers, announced
the transaction, which took place
earlier this month.
“Intown adds a vibrant fifth
community to our coverage area,”
Levene said. “It has a loyal base of
readers and advertisers, and we are
excited about the opportunity to
include this important market in
our family of local publications.”
Intowns previous owner and
publisher, Wendy Binns, explained
the change in a letter to readers in
the June issue. “The product will
have more potential to develop and
grow,” Binns said, “and the new
owner has increased efficiency with
a bigger, more diverse team of talent.
Atlanta Intown, with a circulation of
35,000 copies, has been published as a
monthly paper since 1994. It is deliv
ered to homes and businesses in Atlanta’s
Midtown and Intown districts, encom
passing the surrounding neighborhoods
of Morningside, Ansley Park, Virgin
ia-Highland, Inman Park, Druid Hills,
Toco Hills and Emory University.
Intown employees, including Ed
itor Collin Kelley, will continue to
work with the publication as part of the
Springs Publishing staff.
Reporter Newspapers was launched
in January 2007 with the Sandy Springs
Reporter and Buckbead Reporter editions.
The Brookbaven Reporter was added in
2009, followed by the Dunwoody Re
porter in 2010.
The four, bi-weekly newspapers are
delivered to homes and businesses in
each community; combined circulation
is 65,000 copies. A companion website,
www.ReporterNewspapers.net, provides
daily local news postings and story up
dates.
City finds more money
for projects
Bf DAN WIUH1T
danwhisenhunt@reporternewspapers.net
The city will have an additional
$500,000 for projects this year.
City Council learned during a May
21 budget hearing that staff revised its
prediction of how much tax money the
city will collect.
According to the newest estimate, the
city will take in $2.4 million less in reve
nue, not the $2.9 million in less revenue
city staff originally predicted.
City staff budgeted the extra
$500,000 into citywide “priority” capi
tal projects. Capital projects are brick-
and-mortar spending on things such
as roads and bridges. The city bud
get proposal recommends spending the
$500,000 on improvements for Aberna-
thy-Johnson Ferry Road and building a
pedestrian bridge on Dunwoody Club
Drive.
Each year during budget time, city
staff members give council members a
list of priority projects and ask them to
rank each one. Staff members review the
rankings and then budgets accordingly.
The ranking process is intended to purge
politics from the decision.
In recent budget meetings, City
Council members have questioned that
system because the city will have so little
to spend on priority projects this year.
The $5 million to-do list is the lowest
amount for priority projects in six years,
largely due to the city’s spending on its
city center project.
This year the city is budgeting $13.5
million for its city center project, a de-
cade-long effort expected to cost upward
of $ 100 million.
The proposed city general fund bud
get is $87.8 million, a figure that in
cludes $22 million transferred to the
city’s total capital projects budget. San
dy Springs’ capital projects fund budget
will be $90.5 million.
Sandy Springs is projecting a $7.3
million surplus this year, according to its
budget proposal.
Sandy Springs’ new fiscal year, Fis
cal 2014, begins on July 1. City Coun
cil will consider approving the budget in
June.
2 | MAY31—JUNE 13,2013 | www.ReporterNewspapers.net
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