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Maine Treasurer Urges LePage to Release Bonds
03/07/2014 12:55 PM ET  

Maine State Treasurer Neria Douglass said not selling bonds this summer will hurt the state's finances and delay much needed infrastructure projects.

AUGUSTA, Maine (AP) _ In a letter to Republican Gov. Paul LePage Wednesday, Douglass urged the governor to reconsider his decision not to sell bonds to pay back projects the state has started funding until there's $60 million in the rainy day fund.

LePage said a new law that takes from the fund to restore revenue sharing will hurt the state's credit rating and that releasing bonds would be financially irresponsible.

Democratic House Speaker Mark Eves called on LePage to immediately stop "holding these bonds hostage."

LePage's office said it's working with lawmakers on its proposal to put $21 million back into the fund to ensure the bonds can be released.

(Copyright 2014 by The Associated Press. All Rights Reserved.)


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