The town of Headland is anticipating a major growth spur.
However, town officials say in order to save money in the long run, they need to consolidate their debts now.
"I think it's great. I think this is a service to the city and I think this is something most of the people will understand. You’re saving money, you're stretching money and also you're taking care of new developments" says Headland Mayor Reuben Shelley.
One of the largest debts is the Douglas Park. After debating for several months, the town is now taking out a loan of $775,000 dollars to pay off the park and other city bills.
However, reconstructing debts isn't the only thing this money will cover. Officials say it will also accommodate new construction.
"The main thing was to restructure, but it would provide water and sewage service to this new development which is being planned now," says Shelley.
The loan will be repaid over 20 years.
Officials say that will reduce their monthly payments by $3000 dollars.
Town leaders predict their population of 5100 residents to increase by 8000 to 10,000 people within the next five to 10-years.
Officials say the growth will come with better water and sewage service.