BRADENTON, Fla. — The South Florida Water Management District unanimously approved a plan Thursday to pay nearly $200 million in cash, instead of using bond financing, to purchase U.S. Sugar Corp. land for Everglades restoration projects.

The district had planned for nearly two years to use certificates of participation to buy the land. But deteriorating economic conditions, particularly declining property values, previously caused its Board of Governors to downsize the purchase contract twice to avoid increasing property taxes.

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