Fulton County Issues $167 Million Library Bond | Print |

 Fulton County has issued a $167 million Library Bond, as approved by voters in a 2008 referendum.  Fulton County received a record low interest rate of 3.13% for a 30-year bond issuance. 

The financial markets bid aggressively for Fulton County bonds.  Fulton County’s record-low interest rate can be attributed, in part, to affirmation from the three major credit rating agencies of the County’s high investment grade ratings.  The agencies cited a strong fund balance and the County’s continuing conservative fiscal management with leadership and oversight from the Board of Commissioners, the County Manager and his team.

The sale of the bonds was strategically timed.  While initial planning called for the sale of the bonds in the spring of this year, close monitoring of the financial markets led County management to delay for six months for a lower interest rate environment.  This action has saved the County approximately $10 million in interest payments.

The $167 million in bonds will be used for Phase 1 of the Atlanta-Fulton Public Library System’s Facility Master Plan, which includes eight new branch libraries: Alpharetta, Northwest Atlanta, Palmetto, Southeast Atlanta, East Roswell, Stewart-Lakewood, Milton and Wolf Creek and two expanded libraries: the Auburn Avenue Research Library on African American Culture and History and the South Fulton Library.