Marietta refinancing to save nearly $1.3 million

Marietta Mayor Steve Tumlin has completed the refinancing of the $25 million 2009 parks and recreation bond, saving $1.275 million.

Tumlin received city council approval in February to lower the interest rate, meaning a 6.18 percent reduction in principal payments, continuing through 2030.

Since Marietta voters passed the bond in 2009, improvements have been made at 13 city parks.