ATLANTA (AP) - Directors of Atlanta's transit authority learned this week the system will save $4.5 million after refinancing a small batch of bonds.
The savings will be stretched out to 2020.
It was welcome news for the Metropolitan Atlanta Rapid Transit Authority, which has been struggling with an annual operating deficit of about $30 million.
The Atlanta Journal-Constitution reports that MARTA is currently remaking its business model and considering privatizing some non-transportation functions to put it on a more sound financial footing. General Manager Keith Parker recently reorganized his top staff, cutting out a handful of expensive executive and administrative positions, which he said should save the authority about $1 million annually.
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