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Question of the weekend: Bond issues
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Tennessee State Comptroller Justin P. Wilson is expected to release new rules next week that would tighten the present rules under which Tennessee municipalities and counties may issue bonds to finance new schools, roads, stadiums, and other projects. A collapse in the bond markets last year raised questions about risky bond issues by our State's local governments, which ultimately has led to new regulations from the Comptroller's office:
"I want everybody to know who's involved, what their role is and what they are getting paid," Wilson said. "As the saying goes 'Sunshine is a wonderful disinfectant.'"
Wilson's move inspires our Question of the Weekend for reader comments:
Tennessee counties and cities have made somewhat secretive and risky bond issues for years, and past General Assemblies under Democratic domination have allowed that financial risk to occur even though any related failures ultimately would fall upon the State purse. Will the General Assembly endorse Comptroller Wilson's actions by further requiring greater transparency in bond issues and other county and municipal financial decisions?
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