After three years and more than A$l million in legal costs, bondholders and the Castle Pines North Metropolitan District have reached a tentative agreement over repayment of $35 million of defaulted development bonds.

The agreement comes after the case was thrown out of bankruptcy court, whereupon bondholders in May won an unusual state court judgment ordering the district to repay $46.4 million in principal and interest on Dec. 15.

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