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Independence bond move aimed at protecting general fund, basic services
By Mike Genet mike.genet@examiner.net
The Examiner
The city of Independence will borrow $45 million to refinance several bonds for the Falls at Crackerneck Creek development, extending some bond payments by six years to 2051, but with the plan that bond payments should not divert funds from basic city services.
The City Council unanimously approved the deal Monday. The transaction has been in the works for well more than a year and much discussed at a handful of council meetings over the past several months, with interest rates at generally historic lows. The bonds will go for sale in June.