LOS ANGELES -- Officials in Oceanside, Calif., last week approved a refinancing plan for a troubled community facilities district bond issue for which the city has helped cover debt service.

The refinancing for the Williams Ranch Community Facilities District affects a $7 million issue sold in November 1984 at a net interest cost of more than 12%. Such bonds are commonly known as Mello-Roos deals, named after the legislation that authorized special taxes providing security for the debt.

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