TITLE

N.Y. Judge Rolls Back MTA Fare Increase

AUTHOR(S)
Resnick, Amy B.
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/15/2003, Vol. 344 Issue 31636, p40
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
A New York Supreme Court judge Louis B. York ordered the Metropolitan Transportation Authority to roll back the increase in fare of the New York City subway, the Long Island Railroad, the Metro-North Railroad, the Staten Island Rapid Transit Operating Authority, and the Long Island Bus Company. The ruling comes less than a month after state Comptroller Alan G. Hevesi and New York City Comptroller William C. Thompson Jr. released audits that claimed the MTA of hiding 500 million dollar in savings from 14 billion debt refinancing of 2002 in order to justify the fare and toll hike. The ruling does not apply to bridge and tunnel tolls set by the Triborough Bridge and Tunnel Authority.
ACCESSION #
9860033

 

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