Bond ruling issued - WALB.com, Albany News, Weather, Sports

Bond ruling issued

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By Karen Cohilas - bio | email

ALBANY, GA (WALB) -An Albany developer has been ordered to put up a surety bond if he wants to continue his fight against taxpayer backed bonds.

Judge Denise Marshall ruled that developer Tim Coley must post a $600,000 surety bond if he plans to proceed to the Georgia Court of appeals, and continue fighting ADICA's ability to issue $6 Million in bond money.

Coley has argued that the plans are too vague and taxpayers deserve more information.

Meanwhile, Assistant City Manager James Taylor says if the bond money is finally allowed to be issued, it could help revitalize downtown Albany.  He said, "We think it's going to take a significant effort downtown. If we can get one major project down there can create some energy and activity and that project and cause downtown to kind of revitalize itself, so that's our hope."

Coley says he plans to appeal the decision.

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