Covington County’s bonds were sold Monday, and the new bond issue will be closed on Sept. 29, Commission Chairman Bill Godwin said.

The bonds were issued to cover the refinancing of the county’s portion of South Alabama Regional Airport Authority debt,

In 2006, the cities of Opp and Andalusia and the Covington County Commission entered into an agreement in which they secured bonds for the airport. The bond was structured so that lease payments for the facilities the bonds were used to build would pay off the note.

The three local governments are responsible for payments when lease payments don’t cover the note. Some of the bonds were due in August, and the three entities decided to refinance separately.

Godwin said the county also refinanced a portion of its 2005 debt that was not refinanced with other debts in 2012. The two debts were kept separate for tracking purposes, he said.

The county earned an A-plus bond rating, he said.

The bond issue was managed by Frazier Lanier of Montgomery.