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Article: Deal in Focus: Milwaukee County Awaits State Legislation to Allow Pension Sale.
- Article from:
- The Bond Buyer
- Article date:
- January 30, 2008
- Author:
CopyrightCOPYRIGHT 2008 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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CHICAGO -- Milwaukee County officials are hoping Wisconsin lawmakers act soon on a bill that would pave the way for a bond issue to eliminate an estimated $330 million unfunded pension liability that is straining county coffers because of rapidly growing annual payments.
The bill has bipartisan support, having recently cleared a Senate committee by a unanimous vote and an Assembly committee in an eight-to-one vote. The Senate is controlled by Democrats and the Assembly by Republicans, while Gov. Jim Doyle is a Democrat and Milwaukee County Executive Scott Walker - who initially proposed the borrowing plan four years ago - is a Republican.
"We are ...