Finance: Six Flags New Orleans pays up

Posted at 1:26 PM EDT (1726 GMT)

May. 5th, 2004 -- Six Flags, Inc. has paid off a $13 million loan to SouthTrust Bank three years early. The money was deferred to the bank by the city of New Orleans during the Jazzland bankruptcy.

The money was due in 2007, but Six Flags has paid it in full, which prevents the city of New Orleans from taking any losses from the Jazzland bankruptcy. Six Flags New Orleans has been a major boost to the local economy, and the mayor of New Orleans said that the park is vital in the development of the city.

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