- Associated Press - Thursday, July 14, 2016

PITTSBURG, Kan. (AP) - The city of Pittsburg plans to issue $6.5 million in bonds to fund construction costs for utilities at its new state-owned casino.

The Pittsburg City Commission approved a development agreement Tuesday that says the Kansas Crossing Casino and Hotel will initially pay for necessary improvements to bring sewer and water service to the facility, The Joplin Globe (https://bit.ly/29Wh2KJ ) reported.

It also says the city will try to issue bonds within 90 days of the improvements being completed to reimburse Kansas Crossing.

“I am comfortable with everything I see here,” said Commissioner Monica Murnan shortly before the commission approved the agreement.

Kansas Crossing will pay off the bonds over about 20 years with payments of about $440,000 annually, said James Walker, the casino’s project developer.

City manager Daron Hall said the city will pay for about $70,000 in projects, including lift-station upgrades. The casino will pay about $500,000 in engineering fees necessary for the utility work.

Hall said he doesn’t expect to raise taxes to fund the work.

“This is a very cheap way for us to get what we need,” Hall said.

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Information from: The Joplin (Mo.) Globe, https://www.joplinglobe.com


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