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FOR IMMEDIATE RELEASE
PR- 263-03
September 17, 2003

STATEMENT BY MAYOR MICHAEL R. BLOOMBERG ON LOCAL GOVERNMENT ASSISTANCE CORPORATION LITIGATION

“Today’s decision by Albany Supreme Court Justice Lewis Benza granting the City Summary Judgment again confirms the legality of the refinancing of the MAC debt.  The decision is another victory for the City and further indication of the constitutionality of the plan enacted by the State Legislature.  We are confident that the Appellate Division will uphold this decision, which will ultimately provide the City with the $500 million in budget relief that the City needs.”







MEDIA CONTACT:


Edward Skyler / Jordan Barowitz   (212) 788-2958




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