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By EMILY FORD, Salisbury Post

KANNAPOLIS, N.C. — In a final effort to save stalled bonds that would pay for improvements at the , Kannapolis will make an unprecedented attempt to rate and sell the bonds by touting the state’s obligation to the campus.

The Kannapolis city manager has asked for the state’s blessing to pursue an investment grade rating for $30 million in tax increment financing bonds, or TIF bonds.

"That is highly unusual," City Manager Mike Legg said.

To convince agencies to rate tax increment financing bonds, the city would rely on North Carolina’s excellent credit rating, as well as a complicated provision in the leases between the state and Castle & Cooke, developer of the Research Campus.

The campus is a life sciences complex in downtown Kannapolis founded by David Murdock, owner of Castle & Cooke and Dole Food Co.

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