TITLE

Shutting the Back Door

AUTHOR(S)
Newman, Emily
PUB. DATE
December 2004
SOURCE
Bond Buyer;12/2/2004, Vol. 350 Issue 32021, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that in a setback for West Virginia Governor Bob Wise's administration, the state Supreme Court of Appeals ruled yesterday that the governor's proposed $4 billion taxable pension bond sale does not constitute a refinancing of current debt and cannot go forward without first being approved by voters. The court concluded that a sale without voter approval would violate the state's constitution. The taxable pension bond issue, which would primarily fund the liabilities of a teachers' pension fund, would have been the state's biggest ever.
ACCESSION #
15256714

 

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