Gwinnett refinances debt to save millions

The Gwinnett County Board of Commissioners Tuesday agreed to refinance up to $192 million in debt, a move that could save the county $7 million to $9 million.

The bonds originally were issued in 2003 to pay for a variety of water and sewer improvements. Refinancing the bonds will allow Gwinnett to take advantage of lower interest rates. The water and sewer department would realize any savings between now and 2025, when the bonds are scheduled to be paid off.