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Change Sought In NJ Arena Deal To Shield Taxpayers
(Trenton-AP, September 4, 2001) _ Lawmakers are considering a way to shield taxpayers in case the proposed Newark basketball and hockey arena goes bust.
The Associated Press has learned Republicans are talking about changing the bill. It would call for a referendum if the arena fails to meet its debts and asks for help from the state.
The Assembly Appropriations Committee is scheduled to discuss the arena bill tomorrow.
Acting Governor DiFrancesco put together a plan to provide $190 million in financing from a state agency. The Senate passed his bill in June.
GOP gubernatorial candidate Bret Schundler opposes the arena deal because he says such borrowing requires voter approval.
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