The Andalusia City Council Tuesday authorized the mayor and clerk to proceed with funding of the 2009 General Obligation Bonds, and issue bonds for city and airport-related projects up to $15 million.

Mayor Earl Johnson explained that the new bond issue does several things, including refinancing the city’s portion of the airport debt; refinancing the city’s 2009 bonds at a lower interest rate; paying off short-term, local notes; and financing downtown projects for a new restaurant and theater.

Johnson said the arrangement will reduce the long-term debt by 50 percent over the next 10 years, and the debt will be serviced with the city’s pro rata share of lease payments from buildings at the airport, and income from the two businesses that will be in the downtown buildings.

The council also:

• completed the first reading of an ordinance that would allow the council to sell a spec building in the industrial park formerly occupied by SaeHaeSung to J&D Properties, LLC.

The City Industrial Board approved the sale in December.

At the time, Jimmy Pate, owner of Covington Heavy Duty Equipment, explained that he was expanding his business to include cleaning supplies and equipment like pressure washers.

An ordinance requires two readings before it can be passed, unless there is a unanimous vote to suspend the rules.