This came through my email, and something smells off. This is a proposal currently in the Wisc Assembly.
http://www.legis.state.wi.us/2003/data/AB-602.pdf "Under current law, as affected by 2003 Wisconsin Act 33 (the biennial budget bill), the Department of Transportation, under specified circumstances, may contract up to $1,000,000,000 in public debt for the purpose of funding major highway and rehabilitation projects. Principal and interest costs incurred in financing this debt (debt service) are paid from the transportation fund. This bill decreases this authorized general obligation bonding limit by $434,519,600, from $1,000,000,000 to $565,480,400. The bill also requires that, beginning on July 1, 2005, debt service on this debt be paid from the general fund." Borrowing less for major transportation projects and rehab sounds OK - less debt incurred for big highways. But the part about paying for debt service out of general funds instead of transportation $$ seems wrong. Anyone else have thoughts? _______________________________________________ Bikies mailing list [EMAIL PROTECTED] http://www.danenet.org/mailman/listinfo/bikies
