Little Rock has put on hold plans to renovate city parks with $6.4 million of savings expected to be realized from refinancing $16.5 million of park bonds issued in 1998 to buy land for the President Clinton Center.

City directors in October approved the plan to extend the bonds’ maturity from the original term of 2023 until 2039, but finance officials said last week Little Rock will not be able to refinance the debt until market conditions improve.

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