NLC Head: Economic Hardships Will Lead to Drop in Issuance

Vadum, Matthew
May 2003
Bond Buyer;5/28/2003, Vol. 344 Issue 31644, p3
Trade Publication
As the combination of the depressive U.S. economy and reductions in state-level grants are affecting the local governments, there will probably be a decline in bond issuance by cash-strapped localities in the near future, the National League of Cities' president John DeStefano Jr. said on May 27, 2003. Due to the delay in infrastructural investments made by cities and towns there is the possibility of decline in bond issuance. Revenues that states traditionally return to cities and towns are likely to decline by an average of 2.1 percent during 2003.


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