Alhambra : 2 Financial Moves OKd
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To pay off existing debt and help finance development projects, the Alhambra Redevelopment Agency and the City Council have approved two bond issues.
One of the new issues is a $3.4-million tax-exempt note, part of which the agency will use to pay $3.1 million it owes the city. The second is a $2.5-million taxable note to cover cost overruns and other redevelopment costs on agency projects. Annual payments on the two notes total $413,000.
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