The Atlanta Journal-Constitution reported last year that the county might borrow as much as $386 million.
The amount actually being borrowed is lower because of the lengthy appeal to the Georgia Supreme Court of the legality of the county’s contribution. That time lapse saved the county money because now it does not need to borrow money to pay capitalized interest on the debt.
“The SunTrust bond issuance is a major benchmark on the road to … opening in April 2017,” County Manager David Hankerson said in a prepared statement.
Pehrson said the county will pay a 4.4-percent interest rate. The lower debt payments mean the county will raise the county-wide property tax rates by .23 mills, rather than the anticipated .33 mills.
That millage rate increase is controversial because voters approved the .33 mill increase so the county could buy parkland. But voters had no say in the tax increase for the stadium.
A portion of the county’s debt payments will be covered by $6.1 million in annual rent payments from the Braves.