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Refinancing to Yield $2.5 Million for Chattanooga, Tenn., Development Projects.

By Mike Pare, Chattanooga Times/Free Press, Tenn. Knight Ridder/Tribune Business News

Feb. 5--A complex refinancing of $60 million in bonds, issued almost four years ago to help fund part of three key downtown Chattanooga projects, will yield the city up to $2.5 million, officials said Wednesday.

"It gives us interest savings up front," said Daisy Madison, the city's deputy finance officer.

The $2.3 million to $2.5 million in interest savings can be used to defer debt service or be spent on capital projects downtown, she said. David Eichenth

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