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Gulf Shores authorizes up to $20 million warrant to fund airport 'Terminal 1.5' expansion
Summary
The City of Gulf Shores adopted Ordinance No. 2203 to issue a general obligation taxable warrant of up to $20,000,000 to Renasant Bank to fund Terminal 1.5 improvements at Gulf Shores International Airport; the privately negotiated warrant carries a 4.800% fixed interest rate and matures March 20, 2029.
The Gulf Shores City Council on March 9 approved Ordinance No. 2203 authorizing the issuance and sale of a General Obligation Taxable Warrant, Series 2026‑B, in an amount not to exceed $20,000,000 to Renasant Bank. The purchase of the warrant is intended to provide funds to the Airport Authority for design and construction of the 'Terminal 1.5 Expansion' at Gulf Shores International Airport.
Ordinance No. 2203, adopted by unanimous roll‑call vote after the council suspended rules for immediate…
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