Tonight, the city of Warner Robins is a little bit wealthier.
At a pre-council meeting, Mayor Chuck Shaheen signed off on the re-financing of two revenue bonds. The bonds were purchased in the mid 90s by the city to provide funding for natural gas lines.
With this new interest rate, the city will save nearly 540-thousand dollars over the next 15 years.
"These bonds they were at a 6% interest rate and we were able to get a 3.4% interest rate so over the course of the bond, it gave us a very significant cash savings in interest costs," says Chief Financial Officer, Bill Harte, Warner Robins.
Harte says with this savings, taxpayers will most likely avoid an increase in their gas bills in the near future.