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The La Grange City Council has taken the first step in refinancing its part of the bonds owned for the Oldham Reserve development.
At a busy meeting Monday night, the council unanimously approved a resolution entering into an interlocal agreement with the Kentucky Bonding Corporation, which would allow it to pool its new bonds with other cities to get a better deal, Mayor Bill Lammlein said.
“Since we can no longer go to the open market and sell our bonds because of our bad rating, we have to pool,” Lammlein told the council.
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