Bond Referendum Q&A

The results of the Nov. 7, 2023 vote on the City of Dunwoody General Obligation Bond Referendum:
No – 4,814 votes – 57%
Yes – 3,662 votes – 43%

What is a bond referendum?

A bond referendum is a voting process that gives voters the power to decide if a municipality should be authorized to raise funds through the sale of bonds. A general obligation (G.O.) bond is a form of long-term borrowing in which a municipality pledges the full faith and credit (taxing power) to repay the debt over a specified term. G.O. bonds are generally the least costly financing option available to the town to finance major capital projects.

How did the bond referendum end up on the ballot?

A series of town halls were held in May and June of 2022 to discuss the capital needs of the City. In August 2022, the Council formed a Citizen Capital Committee, and members met several times from September through November 2022 to discuss transportation, parks, and trail needs. In March 2023, the City Council held an annual retreat that focused on capital needs. In May 2023, the Council adopted a call for a voter referendum on General Obligation bonds set for November 2023.

What is the ballot question?

On November 7, 2023, the City of Dunwoody General Election ballot will include the following language:

“Shall the City of Dunwoody, Georgia (the “City”) issue general obligation bonds in an aggregate principal amount not to exceed $60,000,000 for the purpose of financing (a) the acquisition, construction, installation, improvement and equipping of (i) parks and recreational areas, (ii) greenspace and (iii) trails, (b) the costs of issuing the bonds and (c) capitalized interest on the bonds? Such approval shall also constitute an approval of the increase in the City’s current millage cap of 3.04 only to the extent necessary to repay the bonds."

What projects would be funded by the G.O. bonds?

If approved, the City of Dunwoody would work on capital improvements in the following areas using bond funding, along with other revenue sources. Note that the list below is not ranked by preference and is subject to modification based on the needs of the City:

Parks and Greenspace: Wildcat Park, Homecoming Park on Vermack Drive, Softball Fields, Waterford Park, Brook Run Park

Trails: Village Crossroads (Chamblee Dunwoody Road), continuance of the Winters Chapel Multi-use Trail, North Peachtree Road, Mount Vernon Road

Why use bond financing for the listed projects?

How would this affect my taxes?

The bonds would be paid off over 20 years. Based on preliminary 2023 digest numbers and conservative market rates, the typical home in Dunwoody ($500,000 value frozen at $400,000), would pay an extra $157.36 a year at a rate of 1.049 mills if the bond is approved. This would represent 2.3% of the total tax bill. These estimates are if all the bonds are issued at once (early 2024) at current market rates. Current market for a city like Dunwoody the rate would be in the 4% range.

What happens if the bond doesn’t pass in November?

What's next?

Capital and Bond Update Presentation for Dunwoody Homeowners Association Meeting, Oct. 1, 2023

Helpful links

The City of Dunwoody has called for a voter referendum on the November 7, 2023 ballot to fund capital projects in whole or part by the issuance of general obligation bonds. Some projects referenced in the links below are being considered for funding should the referendum be approved by the voters. The City reserves the right to modify plans and/or projects based upon the needs of the city and future funding.

Wildcat Park & Homecoming Park Master Plans

Brook Run Park Improvements

Waterford Park Improvements

Mount Vernon Road Trail

Village Crossroads

Winters Chapel Multiuse Trail Phase II

N. Peachtree Road Multiuse Trail

News: Dunwoody City Council calls for bond vote in November