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[quote="Guest"]Maybe Obama could redistribute some of that wealth to NJ![/quote]
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<table border="0" cellpadding="3" cellspacing="1" width="100%" class="forumline"> <tr> <th class="thCornerL" width="22%" height="26">Author</th> <th class="thCornerR">Message</th> </tr> <tr> <td width="22%" align="left" valign="top" class="row1"><span class="name"><a name=""></a><b>Guest</b></span></td> <td class="row1" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Wed, Oct 29 2008, 4:34 pm EDT<span class="gen"> </span> Post subject: Re: State approves plan to borrow $1.6B for transportation projects</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">Maybe Obama could redistribute some of that wealth to NJ!</span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> <tr> <td width="22%" align="left" valign="top" class="row2"><span class="name"><a name=""></a><b>Star Ledger</b></span></td> <td class="row2" height="28" valign="top"><table width="100%" border="0" cellspacing="0" cellpadding="0"> <tr> <td width="100%"><img src="templates/subSilver/images/icon_minipost.gif" width="12" height="9" alt="Post" title="Post" border="0" /><span class="postdetails">Posted: Tue, Oct 28 2008, 7:31 pm EDT<span class="gen"> </span> Post subject: State approves plan to borrow $1.6B for transportation projects</span></td> </tr> <tr> <td colspan="2"><hr /></td> </tr> <tr> <td colspan="2"><span class="postbody">State approves plan to borrow $1.6B for transportation projects <br />by Dunstan McNichol/The Star-Ledger <br />Tuesday October 28, 2008, 4:19 PM <br />New Jersey today prepared to take a plunge into the turbulent market for public debt, approving plans to borrow up to $1.6 billion for transportation improvements next month. <br /> <br />The borrowing, by the state's Transportation Trust Fund Authority, will raise funds for about a year's worth of work on New Jersey highways, mass transit programs and local aid. <br /> <br />Members of the authority's board approved the bond sale, which officials have scheduled for Nov. 12 and 13. <br /> <br />It marks the first time since July that the state has attempted to borrow funds. Public borrowing has been difficult since the summer as the collapse of securities tied to sub-prime mortgages has left many banks and investors unwilling to advance funds to any borrowers. <br /> <br />Nancy Feldman, director of the state's Office of Public Finance, said officials may use a series of smaller issues over the course of several months to raise the transportation funds if interest rates are buyers are difficult to find next month. <br /> <br />The transportation program has about $9.3 billion in debt outstanding. It is a portion of the state's $32 billion in outstanding debt, a debt that costs taxpayers about $3 billion to pay down each year. <br /> <br /><a href="http://www.nj.com/news/index.ssf/2008/10/state_approves_plan_to_borrow.html" target="_blank">http://www.nj.com/news/index.ssf/2008/10/state_approves_plan_to_borrow.html</a></span></td> </tr> </table></td> </tr> <tr> <td colspan="2" height="1" class="spaceRow"><img src="templates/subSilver/images/spacer.gif" alt="" width="1" height="1" /></td> </tr> </table>
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