This item in our library has been archived due to its date. You have reached this
page though a link from a search engine, a different website, or from a bookmark.
You may find the information on this page to be dated or no longer available. We
are keeping it temporarily available only for archival purposes.
The Governor Wants to Borrow $6 Billion to Build New Prisons: Fact Sheet on the Use of Lease Revenue Bonds to Build Prisons
| Cataloged on:
Feb. 08, 2008
ANNOTATION: Answers to the following questions are provided: How are most prison construction projects funded?; What is a bond?; What is a General Obligation (GO) Bond?; What is a Lease Revenue Bond (LRB)?; How can the state use LRBs to build prisons when prisons do not produce any income ("revenue") whatsoever?; Does this mean taxpayers do not vote on LRBs to build new prisons?; What are the costs differences to taxpayers between LRBs and Go bonds?; If LRBs cost more, why would politicians use them to build prisons?; and How much does a typical $100 million bond cost taxpayers using a pay as you go model vs. GO bonds vs. LRBs?