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Knotts won't run for SC governor

The Gastonia City Council will vote tonight on amending the city charter to increase the terms of service for council members and the mayor from two to four years. If the ordinance is adopted, anyone seeking a referendum on the amendment would have 30 days to submit a petition with the signatures of 10 percent of Gastonia's registered voters.If that petition is valid, the council would have to hold a referendum within 60 to 120 days. If no valid petition is filed, the change to four-year terms would be effective for the November 2007 election. -- Jefferson George

Mecklenburg County

Banker hurt in mock bullfight continues care in Charlotte

Ray Ducharme, a Charlotte banker injured during a mock bullfight in Pamplona, Spain, was flown to Charlotte in a medevac plane Monday.

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Arsenal Beats Manchester United in Asset-Backed Debt (Update2)

July 7 (Bloomberg) -- Arsenal Holdings Plc, beaten in European soccer's Champions League final this year, is preparing for a bond market victory.

The owner of the Arsenal soccer club in Highbury, London, plans to raise 260 million pounds ($478 million) this month in the first public sale of asset-backed debt by a European team. By insuring the 25-year securities and pledging ticket revenue to investors, the company obtained a AAA credit rating.

Arsenal will use the money to repay a loan that financed its new stadium and save about 1.2 million pounds in annual interest. The securities yield less than bonds sold by rival teams Chelsea and Manchester United and show how the asset- backed market is picking up in Europe.

``This deal will dramatically lower debt service charges,'' said Stephen Schechter, founder of Schechter & Co., a London- based investment bank that has helped seven U.K.

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