Hevesi: PACB Approving Billions In State Debt
November 22, 2006
The state Public Authorities Control Board is pushing through billions of dollars of borrowed funding, just months before the current administration leaves office.
The PACB has approved numerous state construction and economic development projects in the past month, and Comptroller Alan Hevesi says it is saddling state taxpayers with billions of dollars in debt, in the final days of Governor George Pataki's term.
In October, projects worth nearly $5 billion were approved and this month, the PACB was set to vote on nearly $7 billion more, much of it new state debt.
But Governor Pataki's office says the board is voting on measures that had been delayed by Hevesi and Assembly Speaker Sheldon Silver.