The city of Columbus will be moving ahead with a proposal to refinance up to $9.75 million in bonds that were used back in 2007 to build the Jackson Street parking garage.

The plan is to save more than $684 thousand dollars in interest by refinancing the bonds with today’s lower interest rates.

The city’s redevelopment commission and the city council both agreed a few weeks ago to pursue the option and both bodies are scheduled to consider the issue again next week. Representatives from the city’s financial advisers, Reedy Financial, and legal advisers, Barnes and Thornburg, would be paid out of the proceeds from the bond sales.

The Redevelopment Commission meets at 6 p.m. Monday and the City Council at 6 p.m. Tuesday. Both bodies meet in the City Council chambers at Columbus City Hall.

City Council agenda (PDF download)