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$17 million bond sale approved by Cedar Rapids council
Gazette Staff/SourceMedia
Apr. 14, 2010 7:48 am
The Cedar Rapids City Council voted unanimously last night to sell up to $17 million in bonds, which would qualify the city for an expected $35 million federal grant to build a $50 million convention facility.
Member Chuck Wieneke said he would like the bonds to be paid off with hotel/motel revenue, not property taxes.
Kathy Potts, an unsuccessful candidate last fall for the council, reiterated her desire for a vote on the issue during the public comment period of the meeting. She had attempted to gather enough signatures to force a vote but was unsuccessful.
Council members did not address Potts' concerns in their discussion.
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