KANNAPOLIS, N.C. — The city may be able to save taxpayers $2.1 million in the years ahead by making use of a provision of the federal government’s stimulus plan.

Last month, the Kannapolis City Council and Cabarrus County Commissioners voted to approve up to $35 million in limited obligation bonds to finance a variety of projects, including infrastructure improvements related to the N.C. Research Campus.

The proceeds also include $13.5 million to construct a new Cabarrus Health Alliance facility in Kannapolis.

Monday, City Manager Mike Legg will present a plan to issue these bonds as Build America Bonds, a type of financing subsidized by the federal government in an effort to help the struggling bond market recover.

For details, read the Salisbury Post report.

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