District of Columbia to Report $307M '04 Surplus

Vadum, Matthew
December 2004
Bond Buyer;12/2/2004, Vol. 350 Issue 32021, p4
Trade Publication
The article reports that the District of Columbia expects to report a $307 million surplus for the fiscal year that ended September 30, marking an eighth consecutive year of balanced budgets, Natwar M. Gandhi, the city's chief financial officer, disclosed yesterday. Gandhi revealed the information one day after the District Council narrowly gave preliminary approval to a baseball stadium and community development package that could lead to $1 billion in bond issuances. Citing the district's strengthening local economy, property tax base, and healthy cash reserves, last month Standard & Poor's upgraded the city's general obligation bond rating to Aminus


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