The City of Atlanta (the "City") is expected to come to market with $146 million1 in Tax Allocation Revenue Bonds. This transaction is broken into five parts: Refunding Series 2016A, Refunding Series 2016B, Taxable Refunding Series 2016C, Series 2016D, Taxable Series 2016E. The proceeds from the sale of the Series 2016 Bonds will be used for the purpose to refund Beltline Project Bonds, to fund projects, to fund certain accounts, and to pay certain costs of issuance of the bonds. The Atlanta BeltLine Tax Allocation District (also referred to as the Atlanta BeltLine) encompasses the most comprehensive transportation and economic development effort ever undertaken in the city of Atlanta and is among the largest, most wide-ranging urban redevelopment programs currently underway in the United States. These bonds are rated "A2" by Moody's.2
The Series 2016 Bonds are special, limited obligations of the City secured solely and payable solely from the Pledged Revenues, which consist primarily of the Tax Allocation Increment. The Series 2016 bonds shall not be deemed to constitute a debt of the City, Fulton County, or the Board of Education. Please see the Preliminary Official Statement for more details.
Traditionally, municipal bonds will be subject to optional call features, and term bonds will generally have a Mandatory Sinking Fund feature. Please review the structure on the day of the pricing before placing an order.
The bond sale offers attractive benefits to individual investors, including prices and yields that match those available to institutional investors and the potential for stable income through call dates. For Georgia residents, these bonds have a state tax-exemption on the bond coupon payments. Series 2016A, Series 2016B, and Series 2016D bonds are federally tax exempt. Series 2016C and Series 2016E bonds are federally taxable.
How to place an order
The offering is expected to price the week of December 121, although market conditions and/or the discretion of the issuer may alter the anticipated timeline. Individual investors can place orders online or by calling a Fidelity representative at 800-554-5372.
To stay up-to-date on pricing, credit rating changes, and more, please sign up for Fidelity Alerts or visit our Municipal Bond New Issue Offerings page.