Judge Clears Way for Camden Recovery Bonds

Braun, Martin Z.
March 2003
Bond Buyer;3/19/2003, Vol. 343 Issue 31596, p1
Trade Publication
New Jersey Superior Court Judge Andrew J. Smithson dismissed on March 18, 2003 two lawsuits by Camden residents challenging the constitutionality of the city's economic recovery legislation, clearing the way for a 175 million dollar sale of state appropriation-backed bonds to revitalize the state's poorest city.The lawsuits, brought by Councilman Ali Sloan El and the school board, contended that the Camden recovery legislation is unconstitutional because it ceded too much control to the state, depriving city residents of their right to vote.The state had refused to issue the Camden bonds until the citizen lawsuits were settled.


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