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Article: Erie County, N.Y., Control Board Tiff Blocks $37M Deal.
- Article from:
- The Bond Buyer
- Article date:
- May 22, 2008
- Author:
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A squabble between Erie County, N.Y., government and its financial control board has blocked the sale of $36.9 million of bonds and threatens needed capital projects.
A compromise worked out earlier this year collapsed and the Erie County Fiscal Stability Authority last week rejected the county's four-year financial plan.
Erie County Executive Chris Collins has said that the county will never allow the control board to issue bonds for it, according to the Buffalo News. Collins' office did not return repeated calls for comment. The paper quoted Collins as saying, "The word 'never' can be used in capital letters."
Amid the acrimony, county budget ...