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Missouri plans savings from debt refinancing

Monday, January 23, 2012 | 7:52 a.m. CST; updated 9:18 a.m. CST, Monday, January 23, 2012

JEFFERSON CITY — Missouri is planning to refinance more than $500 million of debt as part of Gov. Jay Nixon's plan to balance the state budget.

Nixon's budget proposal for the next fiscal year assumes the state will save $41 million from the debt restructuring.

The governor's budget office said the state already has refinanced $20 million of principle from the debt used to build Mizzou Arena.

Budget director Linda Luebbering said the state also hopes to refinance $317 million of principle from bonds issued by the Board of Public Buildings and $175 million of principle from bonds issued by the state Board of Fund Commissioners.

 


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