For the Record (3)

Eight Cleveland banks agreed to a plan Tuesday to end the city's $10.5 million default and lend it $26 million. Cleveland went into default Dec. 15, 1978, when it failed to pay off short-term notes that carried interest rates ranging from 4 to 8 percent.

You've read  of  free articles. Subscribe to continue.
QR Code to For the Record (3)
Read this article in
https://www.csmonitor.com/1980/0731/073121.html
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe