Mangano asks Albany for absolute power
County Exec asks Albany to give OK for him to forgo NIFA and Legislature.
Nassau County Executive Edward Mangano is pressing Albany lawmakers to pass legislation that would provide an end run around Democratic county legislators and state watchdogs who are balking at tens of millions of dollars in borrowing for tax settlements.
One option would give Mangano the authority to borrow at least $41 million without approval of the legislature or the Nassau Interim Finance Authority, a state monitoring board that controls the county's finances, Deputy County Executive Rob Walker said. Another would allow Mangano to use $192 million in bonds authorized by the legislature in 2004 and 2005.
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Posted Friday, May 25, 2012
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