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City to acton revenuebond plan

The Temple City Council will consider an ordinance and set a pubic hearing for the incorporation of $12.5 million in general revenue bonds in the project and financing plan of Reinvestment Zone No. 1 for northern and western parts of the zone and Northwest Loop 363.The council will meet at 5 p.m. today in the Municipal Building.City Finance Director Traci Barnard said the $12.5 million addition to the finance plan would bump the total revenues to roughly $15.8 million available funding for financial projects and paying debt service on bonds for fiscal year 2003. The 19-year bonds will be paid off by fiscal year 2022. Randy Holly, assistant city manager, said payment on the bonds would not seriously impact taxpayers, but would increase sales revenue for the zone which would
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