Alhambra : 2 Financial Moves OKd
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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