Quote:
Originally Posted by Mr. Ryu
The fair would be $1300.00 for monthly pass. $750.00 for a single ride pass.
i got $3.00.
Nothing is going to change at the MTA. Unless, we break up the MTA and put a 3rd party agency to oversee their overhead.
|
Cannot be done easily or may not even be possible.
Reason why Robert Moses instigated the creation of public authorities in NYS is they can borrow vast sums and not have to put the matter to a vote of state residents. This even though MTA debt when you get down to it is backstopped by taxpayers. If the agency cannot or will not pay its debts then the state would have to step in; this is the implied support MTA bonds enjoy and is why they get better rates in the market place.
In contrast by NYS constitution any sum borrowed over a certain number by the state (cannot recall what it is), must be put to a vote via referendum.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
