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State Treasurer Fitch critical of...

State Treasurer Fitch critical of Legislative bond bill

By: Magnolia Tribune - April 21, 2016

Treasurer Fitch critical of state borrowing

Treasurer Lynn Fitch called the Legislature’s decisions on borrowing for special projects deeply disappointing and hypocritical in a letter to state leaders.

She said some of the state’s bonds don’t meet the qualifications for tax-exempt status, are vague and could threaten the state’s credit rating.

“Several items in the over $308 million bill … lack any specificity. Bonds are borrowed to cover specific projects, not simply for ‘paying costs associated with infrastructure and infrastructure related projects,'” Fitch wrote.

ClarionLedger
4/20/16

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Magnolia Tribune

This article was produced by Y'all Politics staff.