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Article: MBTA Closer to Issuing Own Debt.(Massachusetts Bay Transportation Authority)(Brief Article)
- Article from:
- The Bond Buyer
- Article date:
- November 15, 1999
- Author:
CopyrightCOPYRIGHT 1999 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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Massachusetts lawmakers placed their stamp of approval on the state's long-overdue budget last week. The House of Representatives and Senate approved the $20.8 billion budget last week.
The heart of the budget remained intact following House and Senate leaders' breakthrough Oct. 13, when they reached a general agreement. Broadly, the fiscal 2000 spending plan calls for tax cuts and follows through on a push to spin off the Massachusetts Bay Transportation Authority.
Under a budget structure called forward funding, the MBTA will begin issuing debt on its own -- without the commonwealth's guarantee. The budget includes a $645 million payment to the MBTA to ...