It could be

late June or early July before Peachtree City officials are prepared to

offer a finalized format to "package" proposed bond referendums

for consideration by the City Council.

Several committees

are still considering which projects should be proposed in the bond issue,

said City Public Information Officer Betsy Tyler. At Thursday's council

meeting, one scheduled topic concerns projects that might be funded by

the Development Authority instead of being placed on the bond issue ballot,

Tyler said.

The largest

of those projects is the $2.5 million expansion of the Peachtree City

Tennis Center, although another $200,000 is proposed for final improvements

to the amphitheater. Both venues are administered by the Development Authority.

Those two projects

were initially pitched to be on the bond issue referendum when it was

first discussed at the City Council's retreat in April. The bond issue

could also be used to help refinance the city's existing debt, including

a combined $2 million owed by the Airport Authority and Development Authority.

Mayor Bob Lenox

has said the refinancing would save taxpayer money by securing lower interest

rates than the current loans.

At Thursday's

meeting, council will discuss "what the hotel-motel tax was approved

for and if the development authority wishes to move ahead with those projects

instead of having them on the bond issue," Tyler said.

Some officials

maintain putting the tennis center expansion before voters could create

a misconception since the project has already been approved by council

and the Development Authority. At a recent meeting, Councilman Steve Rapson

said if the tennis center is put up for a vote on the bond issue and defeated,

the city should drop its plans to expand the facility.

Council recently

approved raising the hotel-motel tax from 3 percent to 5 percent, with

almost all of the increase going to the Development Authority and Airport

Authority for capital projects. The increase will generate an estimated

$940,000 a year.

The Development

Authority has discussed using the hotel-motel tax funds to pay for the

tennis center expansion, which would include six new covered courts and

an office building complex to house the tennis center staff. Currently,

the tennis center is leasing office space off-site to fill the needs for

its 33 employees.

The office

building could house other possible tenants that are currently being sought.

Council has

already taken initial steps toward offering several bond issue proposals

before city voters in an upcoming election. At its second meeting in April,

council selected a bond attorney and approved hiring a design firm to

work on the possible $1.2 million expansion of the Kedron Fieldhouse.

That would add another basketball court and a gymnastics area to the facility.

Another possible

project for the bond issue could be the development of the Drake Field

area possibly with a boardwalk along Lake Peachtree although no concrete

estimates for it have been released yet.

Historically,

most projects in Peachtree City have been paid for with cash, aided by

funds from impact fees. But as the city nears its residential buildout,

the impact fees will begin to dwindle, and securing loans for projects

is becoming the preferred method of financing.

Currently,

the city owes $4.06 million although it has the borrowing power to qualify

for up to $121 million in loans. But City Manager Jim Basinger said the

city will not use its borrowing power haphazardly, but only for necessary

projects.

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