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Conyers to borrow $2M
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Just as it has in the past several years, the City of Conyers plans to borrow $2 million from United Community Bank in order to operate until the fiscal year ends June 30.

The city's budget of $12,858,194 was $1 million less than the previous year but still not enough make it through the next two months, according to city officials who approved an ordinance permitting the loan during the city's May meeting Wednesday. 

"We had to do this in the last few years due to cash shortage during this time of the year, and it will be fully repaid as it has in the past," City of Conyers Finance Director Isabel Rogers told the council. She said the loan has an interest rate of 2.25 percent and will be repaid by Dec. 31 after taxes boost the city's revenue in November.

All city departments faced budget cuts due to a forecasted shortage of revenue, which has steadily declined in recent years due in large part to a decline in property values. Rogers has said the latest shortage in revenue is due to a decrease in property tax following appeals that were approved after the budget was approved coupled with a decrease in property assessments.

“We are going to have to get real creative in the next five months,” Mayor Randy Mills said in February. “In areas where we can increase our revenue, that is what we are going to have to go after and we are going to have to be very savvy and put our creative hats on to see what we can come up with.”