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Bill provides funding options for downtown

Updated: October 14, 2003, 1:57 AM ET
Associated Press

SACRAMENTO -- Gov. Gray Davis has signed a bill that could help fund a new arena for the Sacramento Kings, officials said.

The bill, which opens up new funding options for downtown revitalization, allows business owners to float bonds of up to 30 years and pay them off by assessing fees on themselves. It could be used to revitalize the 240-acre Union Pacific railyard near Old Sacramento, which could have a new Kings arena as its centerpiece.

The legislation, which Davis signed ...

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