Quantcast
Home / agencies / State borrows $700M; first external loan since Great Depression (access required)

State borrows $700M; first external loan since Great Depression (access required)

The State Loan Commission has approved a $700 million line of credit from Bank of America, marking the first external borrowing the state has done since the Great Depression. State Treasurer Dean Martin said his office will finalize the agreement with Bank of America next week and will begin issuing treasurer's warrants by the end of November.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

 

x

Check Also

Man putting a ballot into a voting box - USA

HB2404 could resolve legal questions over pay-per-signature payments (access required)

A bill to ban pay-per-signature payments for Arizona initiatives and referenda could help resolve a long legal battle that has split federal appellate courts across the country.