N.Y. Comptroller Outlines Proposals to Curb Debt Insurance

Cataldo, Adam L.
February 2005
Bond Buyer;2/2/2005, Vol. 351 Issue 32062, p36
Trade Publication
The article informs that legal limits on new borrowing, voter approval for bond sales, and a constitutional amendment are all included in a series of proposals announced yesterday by New York State Comptroller Alan G. Hevesi that are designed to control and limit the issuance of state debt. Hevesi laid out his agenda for reforming the state's debt issuance laws and procedures in a 115-page report along with model legislation. The proposal calls for a gradual reduction over the next several years in the state's debt issuance. Hevesi wants a year-to-year reduction in the state's debt issuance of 5%.


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