Monday night, the Athens City Council approved a plan to consolidated three old bonds into one new bond to save substantial tax dollars.
The new bond issue is through First State Bank and will save Athens taxpayers about $414,000 over the next nine years. Importantly, the the term of the debt was not extended.
“The City Council has been very deliberate about pressing forward to ensure we have a very sound financial plan,” said City Administrator Philip Rodriguez. “This is not in any way to be taken lightly when we are finding ways to save the citizens money. I have worked with a handful of councils and oftentimes these sorts of things get complex, but this council has been very deliberate about making sure we get these things in order. I want to commend this council on behalf of the staff and community.”