"Politics and Other Mistakes" piece on the Maine Government Facilities Authority
"Politics and Other Mistakes" piece on the Maine Government Facilities Authority (MGFA), which was created by Gov. Angus King and the Legislature in 1997 and given the power to issue revenue bonds. Previously, such bonds had been restricted by the state Constitution, which required, in most cases, that government had to win the support of two-thirds of the state House and Senate, as well as a majority of the voters, before it could borrow money. In all, the MGFA ha accumulated a debt of more than $200 million plus interest, all of it without public approval.
Bonds, Revenue, Maine Governmental Facilities Authority
Diamon, Al, ""Politics and Other Mistakes" piece on the Maine Government Facilities Authority" (2001). Maine News Index – Casco Bay Weekly. 4052.