Two White County residents who are suing Searcy in state court over bonds the city issued to finance projects at private Harding University have filed a related lawsuit in federal court.

The federal lawsuit said the city has issued “tens of millions of low-interest, tax-exempt capital improvement and refunding revenue bonds for the purpose of loaning the money raised from the sale of those bonds to Harding” since 1991. The school is affiliated with the Church of Christ.

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