VALDOSTA – Everyone loves saving money.

The Valdosta-Lowndes County Development Authority met for its monthly meeting 5 p.m. Tuesday. The meeting was moved 30 minutes up from its regularly scheduled time of 5:30 to approve a bond resolution. 

The resolution would refinance the current bond to a lower interest rate of 2.899%. The new bond, totaling $17 million, would save the development authority $654,658. It passed unanimously.

In a corresponding move, the Lowndes County Commission held a special meeting at 5:30 to vote on the bond resolution. It also passed unanimously. 

Other matters in the meeting included:

Development Authority members unanimously approved a $1.37 million bid by RPI Underground, Inc. for water and sewage installation for Arglass-Yamamura. It defeated a $1.6 million bid by Standard Contractors. 

The authority also passed an EDGE grant resolution and a resolution for a U.S. Economic Development Administration grant application. If awarded the EDA grant, the authority would match 50% of the amount.

Executive session lasted from 5:30-5:46 p.m to discuss “land matters.” No votes were taken during the session.