TOPEKA, Kan. (AP) The Kansas Senate is set to approve legislation giving Junction City more flexibility in managing its debt.
The measure would give the city an additional three years to reduce the ratio of outstanding debt to its total property valuation. The limit would remain at 37 percent under the bill through June 2016.
Junction City issued bonds in the past decade to make improvements related to the return of the Army’s 1st Infantry Division to Fort Riley. City officials and supporters of the debt extension said the expected level of growth didn’t occur, leaving the city in financial difficulty.
The Senate gave the bill first-round approval Wednesday. It cleared the House last month and would go to Gov. Sam Brownback on final Senate passage.
