CHICAGO -- Bondholders of Polk County, Iowa, sports facility revenue bonds will receive a 5% decrease in their June 1 interest payments due to legal and administrative costs incurred by the bond trustee, according to a letter sent to bondholders this month.

In the letter, the trustee, First Trust National Association of St. Paul, Minn., states that the costs resulted from its involvement in a lawsuit relating to the bankrupt Prairie Meadows racetrack. The letter also says that the bond indenture does not require the trustee to risk its own funds for legal services.

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