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Your email address will not be published.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

Sen. Jeff Flake, R-Ariz., left and Sen. John McCain, R-Ariz. (AP Photo/The Arizona Republic, Tom Tingle)

Poll shows Flake in precarious spot (access required)

On the day of President Donald Trump’s visit to Phoenix, the latest poll delivered grim news to U.S. Sen. Jeff Flake, one of the president’s most vocal critics within his party.