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Senate moves to let towns go deeper in debt to weather pandemic crisis

JULY 31, 2020 | by John Reitmeyer | NJ SPOTLIGHT (NEW JERSEY)

By John Reitmeyer, includes “New Jersey’s local governments could borrow money to help offset revenue losses during the coronavirus pandemic under a bill that’s progressing despite concerns among some lawmakers about oversight and the potential for abuse. … The bill’s advancement comes just weeks after lawmakers approved another borrowing measure that gives the state the preliminary authority to issue up to $9.9 billion in new debt to offset its own revenue losses.”

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