North Little Rock, Ark., City Council last week approved a $60 million negotiated restructuring of the city’s electric system revenue bonds to avoid a large payment due in fiscal 2014.

The city was facing a $13.3 million debt service balloon payment in 2014 from a 2009 bond issue that financed a hydroelectric plant on the Arkansas River. The refunding will delay the final payment on the 2009 bonds until 2025.

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