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The proceeds would be used to pay off old loans coming due with money from new borrowing — a technique that lowers annual city spending in the short run but costs the city and taxpayers more over the long haul.
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We may provide links to third party sites, independent from Alliant Credit Union.
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Even though those loans might gain some interest, by paying off higher interest debt, you;ll be freeing up even more money to devote to those later.