Big Money and Little Money
The City Council was scheduled to pass a routine bond bill for the Sunport at the Sept. 15 meeting. Councilors had to defer action. City Assistant Treasurer for Debt Management Cilia Aglialoro and bond attorney David Buchholtz said they couldn’t price the bonds that day because of turmoil in the financial markets, including the bankruptcy of Lehman Brothers, the buyout of Merrill Lynch, insurance giant AIG going on life support and a 500-point drop in the Dow Jones index. Councilor Sally Mayer was excused.
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