Missoula County opposes SB 287, Generally revise public project financing laws, up for hearing this afternoon in the State Administration Committee.
If passed, this bill would likely lead to less competition when local governments issue tax-exempt bonds to finance infrastructure and other physical assets, as smaller regional investment banks don't always have the capacity to expose bonds to the greatest number of buyers. Less competition among bond buyers means higher interest rates. This would cost local governments millions more in debt payments, which would ultimately be passed on to local property-tax payers.
Missoula County opposes SB 287, Generally revise public project financing laws, up for second reading this morning on the Senate floor. If passed, this bill would likely lead to less competition when local governments issue tax-exempt bonds to finance infrastructure and other physical assets, as smaller regional investment banks don't always have the capacity to expose bonds to the greatest number of buyers. Less competition among bond buyers means higher interest rates. This would cost local governments millions more in debt payments, which would ultimately be passed on to local property-tax payers.
Sent Feb. 22:
ReplyDeleteSenator Bennett,
Missoula County opposes SB 287, Generally revise public project financing laws, up for hearing this afternoon in the State Administration Committee.
If passed, this bill would likely lead to less competition when local governments issue tax-exempt bonds to finance infrastructure and other physical assets, as smaller regional investment banks don't always have the capacity to expose bonds to the greatest number of buyers. Less competition among bond buyers means higher interest rates. This would cost local governments millions more in debt payments, which would ultimately be passed on to local property-tax payers.
Please oppose SB 287.
Senators,
ReplyDeleteMissoula County opposes SB 287, Generally revise public project financing laws, up for second reading this morning on the Senate floor. If passed, this bill would likely lead to less competition when local governments issue tax-exempt bonds to finance infrastructure and other physical assets, as smaller regional investment banks don't always have the capacity to expose bonds to the greatest number of buyers. Less competition among bond buyers means higher interest rates. This would cost local governments millions more in debt payments, which would ultimately be passed on to local property-tax payers.
Please oppose SB 287.