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Fri Mar 23, 2018, 11:45 PM

Mayors of Bridgeport and New Haven object to state pay-outs for Hartford's debts

HARTFORD — The mayors of Bridgeport and New Haven lobbed criticism at the state Friday for a bailout deal paying off some of Hartford’s debt to rescue the capital city from bankruptcy.

“We question whether it represents an equitable practice,” said Bridgeport Mayor Joe Ganim and New Haven Mayor Toni Harp in a joint statement. “It seems the state continues to shortchange New Haven and Bridgeport - its two largest cities, with comparatively stable finances, while rewarding the past practices of other cities that put them on the edge of financial collapse.”

Meanwhile, a bipartisan group of top lawmakers defended the approximately $90 million allocated over two years toward Hartford’s debts in the legislature’s budget signed in October.

“What this allows Hartford to do is restructure its debt, it gives them some stability for the short term, but most importantly the state picking this up ensures, we are never going to see a default in debt,” said House Majority Leader Matt Ritter, D-Hartford.

Read more: https://www.nhregister.com/local/article/Mayors-of-Bridgeport-and-New-Haven-object-to-12777526.php

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