Granite council acts on loans, projects (Advocate Tribune) The Granite Falls City Council granted approval of one loan and gave an extension for the repayment on the other during Monday’s council meeting. On June 21, 2004 the Granite Falls city council approved a $75,000 loan to Granite Fluid Power Machining and Fabrication, Inc. Bad-loan manager to sell bonds (China Daily) China Cinda Asset Management Co, one of four state-owned companies formed to clean up non-performing loans, said yesterday it will sell three billion yuan (US$384 million) worth of bonds backed by bad loans, the first sale of its kind in the country.