STOCKBRIDGE — As the days of the pandemic near an end, several organizations are still waiting for financial support from local and federal officials. It is with this concern that
STOCKBRIDGE â The Stockbridge City Council has approved a $22 million bond issue to fund completion of the cityâs amphitheater project as well as construct a new cultural arts center and initiate a master trail plan.
Council members voted Nov. 24 to issue the bonds to fund projects that could be covered under the cityâs 2019 Special Purpose Local Option Sales Tax V proceeds. The city expects to receive more than $20.5 million in SPLOST V proceeds over the next five years.
Councilman Elton Alexander made the proposal for the bond issue, saying he wanted to pursue more than one city project at a time. His plan calls for $7 million to be used to complete the 3,200-seat amphitheater adjacent to City Hall, $14 million to go toward a cultural arts center, and $1 million as âseed moneyâ for the master trail plan. Under Alexanderâs proposal, the bonds will be repaid over five years at a 1% interest rate, taking advantage of what he called âhistorically lo