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The Los Angeles City Council

The Los Angeles City Council approved a tax exempt bond agreement Wednesday that would cost the city nothing but would benefit Loyola High School. The approval allows the city to issue $30 million in tax exempt bonds on behalf of the Catholic school, where Mayor Antonio Villaraigosa’s son is enrolled. No city funds would be at risk, according to a city analysis of the deal, which gives Loyola better financing than would be available through the private sector..

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