Ohio Rail Plan Faces Legal Hurdle Over Tax Rules
The Treasury Department says Ohio's $2 billion high speed rail financing plan fails to meet federal tax law requirements. Ohio lawmakers approved bonds to fund a study, but officials warn lack of firm commitment could be illegal. Representative Van Meter plans a statewide vote to block the network linking Cleveland to Cincinnati.
MENTIONED IN THIS ARTICLE
Columbus
Ohio
U.S. Treasury Department
Thomas A. van Meter
Rushland
Cleveland
Cincinnati
Treasury
Sam Richardson
U.S
Treasury Department
Ohio rail bond plan on hold awaiting Treasury approval
Bond lawyers delay issuing $2 billion in tax exempt bonds as Treasury concerns risk personal liability for underwriters. Officials say reinvestment of proceeds could earn about $100 million while studies decide if the rail project should go forward, with a decision likely in 1990.
MENTIONED IN THIS ARTICLE
Ing
Treasury Department
Dennis J. Concilla
State GOP chairman faces uncertain future
Ohio Republican Chairman Michael Colley faces an unsure path as party leaders weigh his future before the May 1988 term end. Some back Colley praising his efforts despite losses, while critics question his handling of campaign funds and overall performance.
MENTIONED IN THIS ARTICLE
GOP
Columbus
Ohio
Michael Colley
Colley
Ohio Supreme Court
Mike
Robert Wilson
Elyria
Wilson
Republican State Central Committee
4Th District
Robert Holmes
Lima
Senate
Paul E. Gillmor
Port Clinton
Gillmor
Republicans
Republican National Committee
Norm Cummings
Cummings
Also Mentioned on This Page
Feds
Richardson
Richard Celeste
John M. Anderson
Bond
Holmes
James Brennan
Toledo
Brennan
St. Joseph Hospital
Elyria Memorial Hospital
Lorain Community Hospital
SUN
Pandy
Norfolk Pines
Lorain
LGB
Poinsettias
Eon Ac
Kresge
Amhersterr A
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