New Jersey Makes Plans to Sell Meadowlands, Monmouth Horse Tracks

Braun, Martin Z.
May 2003
Bond Buyer;5/6/2003, Vol. 344 Issue 31629, p32
Trade Publication
The New Jersey Sports and Exposition Authority (NJSEA) in the last week of April 2003, said it would seek to sell or lease its two horse racetracks, which have a combined 218 million dollars in debt. “We wouldn't want this debt to be stranded debt. If there was a sale, the debt would be paid,” said Jim Debosh, a spokesman for the NJSEA. Debosh said the racetracks' outstanding debt was a mix of revenue-backed debt, revenue supported by state contract debt, and general appropriation-backed state contract debt.


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