- 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.


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



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