However, ARA’s borrowing could be affected under the measure if the agency and the city chose to back the tax increment financing revenue stream with the full faith and credit of the city to achieve the lowest borrowing cost. If the city’s ability to borrow is limited, then the city’s full faith and credit could be restricted as well.
According to the Comprehensive Annual Financial report, CARA debt totaled $5,548,200 as of June 30, 2012.
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