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MIKE DEFENDS BID TO EASE CITY'S DEBT

PostPosted: Mon Jul 30, 2012 7:09 pm
by baert53833
Mayor Bloomberg knows a good deal when he sees one - at least a good deal for the city. The mayor MBT Tenga Mid GTX, who plans a no-holds-barred court fight to make the state abide by a debt refinancing plan approved by the Legislature, wouldn't say whether the plan was good for the state. "I can't answer that question because I don't work in state government," he said on his weekly radio show. "I work in city government. "It is a very good deal for New York City. That's my obligation - to to get the best deal I can for New York City." This spring, the Legislature agreed to assume a whopping $2.5 billion in city debt remaining from the fiscal crisis of the 1970s. Over Gov. Pataki's veto christian louboutin kolonaki, the Legislature overwhelmingly voted to spend $170 million annually for 30 years to pay down the debt. On Wednesday, Pataki threw the city a curve ball when a state board he controls voted to scuttle the deal. Bloomberg responded by threatening to take the matter to court unless Pataki offers an alternative plan that's "as good for the city or better" than the one he negotiated. Bloomberg quickly rejected a compromise proposal, floated by Pataki late Friday Puma csizma, that would shorten the term of the refinancing from 30 years to 10 to 12 years christian louboutin athens, saving state taxpayers $1.8 billion. Bloomberg's aides said the compromise proposal wasn't as good as the original. But budget watchdogs said Pataki's plan was a step in the right direction. The governor's alternative proposal on refinancing the debt is "preferable" to the 30-year-stretch plan recently voted down by the state board Puma boty, said Diana Fortuna, president of the Citizens Budget Commission. "While not ideal - because its 10-year debt stretch still imposes a significant burden on future taxpayers - it is less costly to the next generation Puma e-shop," she added.Topics related articles:


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