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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