Bonds/ Debt Management

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Notice:  The Tennessee Comptroller's Office has approved the City's plan of refunding for issuance of  estimated $23,075,000 General Obligation Refunding Bonds, Series 2019B priced at a premium to current refund its outstanding $26,280,000 General Obligation Public Improvement Bonds, Series 2009B (Federally Taxable, Build America Bonds, Direct Payment) dated December 28, 2009 and maturing March 1, 2020 and thereafter.  The enclosed report is effective for a period of ninety (90) days from the date of the report. Please click here to see the letter, report, and plan of refunding.

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The City of Franklin has a bond rating of AAA, the highest attainable rating, from Moody's and Standard & Poor's.

The City of Franklin periodically issues bonds to fund long-term capital projects. Recent bond issues have funded major projects like: a new police headquarters, the new McEwen Interchange and street improvements at South Royal Oaks, Jordan Road, and Downs Boulevard. To learn more about Capital Projects, follow this link.

As of June 30, 2018, the general obligation debt of the City was $136,500,000. Current debt levels, on a per capita basis, are below average for Tennessee cities. In FY 2018-2019, the City's debt service is approximately $13.4 million and is paid by a combination of property tax and other special revenues, including hotel/motel taxes and road impact fees.

Click on the following links to see the City's Debt Management Policy or Federal Tax Compliance Policies and Procedures.

 

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