Orange Beach bond refinancing moves forward - al.com

Orange Beach bond refinancing moves forward - al.com: "ORANGE BEACH — The City Council voted unanimously Tues day to let Mayor Tony Kennon work with investment bankers to refinance old debt in an effort to save taxpayers more than $500,000 — but it did so only after being urged by residents to reconsider an earlier vote that put off any decision.

While the particulars could change, Orange Beach officials hope to pay off six past bond issues that carry a combined interest rate of 4.68 percent. All told the city is aiming to sell between,

$18 million and $20 million in bonds to pay off the higher-interest debt."