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San Gabriel Valley Digest

Industry

April 18, 1985

The Industry Urban Development Agency (IUDA), the city's principal redevelopment agency, has approved the sale of $87 million in long-term bonds to refinance $160 million in short-term redevelopment bonds. The 30-year general obligation bonds were issued because county property tax funds diverted annually to the agency would not cover the repayment of short-term bonds that would have come due in 1988.

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