- Associated Press - Friday, February 7, 2014

SOUTHAVEN, Miss. (AP) - Southaven aldermen have approved a resolution authorizing the city to refinance several special obligations bonds that were used for park projects.

The city’s financial consultant, Demery Grubbs, compared the bond refinancing to the refinancing of a home and said that it would save the city $30,000 a year, or $312,000 over the 10-year period the bonds will be refinanced.

The bonds were issued to the city through the Mississippi Development Bank for 2003, 2004 and 2006.

The Commercial Appeal reports (https://bit.ly/1aCy0La ) the resolution was unanimously approved by the board at its Tuesday meeting and gives officials the green light to move forward with refinancing the bonds for lower interest rates.

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Information from: The Commercial Appeal, https://www.commercialappeal.com

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