City of South Fulton Approves FY26 Budget and Secures $96M Financing With No Millage Rate Cap Change

South Fulton, GA - September 9, 2025 - In a decisive and positive outcome during its annual budget adoption meeting, the City of South Fulton Council voted to approve the $425,642,409 FY26 budget, while also confirming that no changes will be made to the city's current millage rate cap. Despite extensive debate on whether to remove the existing cap or raise the rate to 18 mills, neither measure will be necessary at this time.

The City successfully secured $96,285,000 in bond financing at a favorable interest rate of 4.25% over a 20-year term with the option to refinance after five (5)years. These funds will finance the long-awaited construction of both the new Police Headquarters and the Fire & Training Headquarters, two vital projects that will improve public safety and support first responders for many years to come.

Mayor khalid kamaustated, "I want to thank the Citizens of South Fulton, who pushed us to bargain harder and reach for a solution beyond what most of us in leadership could imagine. The collective wisdom and resolve of our people is unmatched. All Power to The People. If we want to go far, we must go together."

Mayor Pro Tem and District 7 Councilwoman Linda Becquer Pritchett stated, "I am thrilled that we are bringing a permanent home to much-needed facilities for our public safety personnel. This is a great step in the right direction that will allow us to better equip our officers and firefighters to deliver critical services and respond more effectively. I believe our citizens will be proud of this."

"I'm incredibly proud to see the new Fire and Training Headquarters coming to District 2 - this is a major win for our community," said Councilwoman Carmalitha Gumbs. "Not only will this facility enhance emergency response times and provide top-tier training for our firefighters, but it also reflects our deep commitment to public safety and smart investment. This is a milestone that District 2 residents can truly celebrate."

The financing was secured through traditional lending channels and a strong, trust-based relationship with Regions Bank. Due to the city's consistent record of fiscal responsibility-such as ending each of the last five years under budget and maintaining steady growth-the bank expressed full confidence in the city's ability to meet its obligations.

"This is a win for our residents, our first responders, and our city's future," said Sharon D. Subadan, City Manager. "By maintaining sound financial practices, listening to our citizens, and fostering strong partnerships, we're securing the facilities our community needs without placing the perceived threat of an additional burden on taxpayers."

Ed Wall of Piper Sandler, who represented the City throughout the financing process, added: "Regions Bank believed in the City of South Fulton's track record and commitment to fiscal responsibility. By standing firm and presenting a strategy rooted in accountability and sound practices, we were able to craft a solution that works for everyone."

This outcome underscores the City's commitment to listening carefully to residents, dispelling fears of unintended consequences, and aligning financial decisions with community values. By combining fiscal responsibility with citizen engagement, the City of South Fulton has achieved this historic and unprecedented solution that meets today's needs while preserving tomorrow's stability.

The City Council's adoption of the FY26 budget marks a pivotal step forward. It ensures that essential public safety facilities will be realized while safeguarding the City's reputation for sound fiscal management.

###