So how were Sandy Springs and Brookhaven able to incorporate and not have to deal with bond accelerations and negotiations. Isn’t a hypothetical Buckhead City the same thing?

Sandy Springs and Brookhaven were both unincorporated areas of Fulton County. They were not part of an existing city and were not de-annexing or leaving a tax base that served as collateral for any municipal debt.

If Fulton County or Dekalb County had outstanding bond obligations, they did not have the same concerns as the City of Atlanta and a hypothetical Buckhead City because their tax base remained constant. Residents of Fulton County remained residents of Fulton County even as Sandy Springs incorporated. They did add an additional layer of government, but from a bond holder’s perspective, their collateral remained constant.