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The Aurora City Council has approved a $10 million contract to build an 850-car garage to be used for the riverboat gambling complex being built downtown.
In order to pay for the contract with R.C. Wegman Construction Co. of Aurora, the city will have to issue $10 million in bonds. Those bonds are scheduled to be issued next month.
The bonds would be retired over a 20-year period with garage and retail space rental fees to be paid by Aurora Riverboats Inc., the developers of the $48 million gambling project.
The street level of the garage also will house a restaurant and retail stores.
