Government & Politics

February 26, 2014 2:24 PM

Council committee endorses Power & Light District refinancing to help with pension reform

The refinancing calls for adding seven years to the entertainment district’s debt payments, from 2033 to 2040. It lowers the payments from 2015 through 2019 and frees up cash to help pay for pension reform, especially in the 2014-15 budget. But it bumps up the debt payments between 2020 and 2040, a net increase in overall debt of $36 million.

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