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Article: Senate approves flow control bill to protect waste debt for 30 years.(refuse disposal, water treatment plant financings, etc.)
- Article from:
- The Bond Buyer
- Article date:
- May 17, 1995
- Author:
CopyrightCOPYRIGHT 1995 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Senate yesterday overwhelmingly approved limited flow control legislation that would protect for 30 years billions of dollars of revenue bond financings for trash plants.
The compromise measure passed on a 94-to-6 vote after the Senate rejected amendments during several days of debate that would have either significantly broadened or narrowed the bill.
The bill is more limited than measures passed by the House and considered in the Senate last year, but it still drew strong support from the Public Securities Association because it is designed to protect all existing bondholders from the effects of a Supreme Court ruling a year ago.
Rep. Michael ...