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D.C. Needs to Refund $350 Million To Stay Under Debt Cap, CFO Says

Monday, February 8, 2010

The District of Columbia does not have any additional debt capacity and risks exceeding its self-imposed 12% debt-to-expenditures cap in fiscal 2011 unless about $350 million of its outstanding fixed-rate bonds are refunded, officials told members of the District Council Friday.

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