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Athens council authorizes refunding of swimming-pool bonds to lower interest costs
Summary
Council unanimously adopted Ordinance 111-25 to issue up to $4.905 million of bonds to refund existing swimming-pool debt, a move described as not creating new debt and intended to reduce annual interest costs paid from the city income-tax fund.
Athens City Council voted unanimously on Oct. 6, 2025, to authorize the issuance of not-to-exceed $4,905,000 in bonds to currently refund outstanding bonds issued for the city’s swimming pool facility.
Acting Council President Micah McCary said the refinancing “will not create new debt. It simply replaces existing debt with a lower rate,” and that the city’s outstanding pool debt is roughly $4,900,000 and annual debt service is “around $550,000 a year.” Mayor Patterson confirmed the move is timed to take advantage of lower interest rates: “You certainly…
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