CHICAGO -- Polk County, Iowa, officials said they may attempt to force an early redemption of approximately $39 million of bonds sold to build a horse racing track to gain substantial interest rate savings.

County Manager James Koolhof said the county is considering exercising a "calamity clause" contained in the indenture of a $40 million industrial revenue bond issue done in 1984 on behalf of the Racing Association of Central Iowa. The proceeds were used to construct the Prairie Meadows racetrack in Altoona.

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