TITLE

N.J. Board Approves Initiative for Newark Municipal Utilities Authority

AUTHOR(S)
Kaske, Michelle
PUB. DATE
July 2010
SOURCE
Bond Buyer;7/15/2010, Vol. 373 Issue 33350, p28
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses the move of New Jersey's (NJ) Local Finance Board to approve an initiative in creating a new utility bonding authority for Newark City. It notes that the proposed initiative would sell 600 million dollars of debt to fund an up-front lease payment to the city of 100 million dollars. Mayor Cory Booker states that the creation of the Municipal Utilities Authority will yield an independent bonding ability.
ACCESSION #
52464535

 

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