The Public Benefit Corporation will sell bonds in order to obtain the projected $32 – $38 billion infusion of monies. Who or what provides the guarantee of repayment in the event of a shortfall?
The PBC will be required to maintain reserves to ensure that the bonds are paid if there is a shortfall in toll revenue. There is no guarantee from the State or the taxpayers to repay the PBC’s bonds. The State of New Jersey, and the taxpayers, will have neither a moral nor a legal obligation for repayment.
Related Questions
- The Public Benefit Corporation will sell bonds in order to obtain the projected $32 - $38 billion infusion of monies. Who or what provides the guarantee of repayment in the event of a shortfall?
- What is the difference between a public benefit, mutual benefit and religious nonprofit corporation?
- What is a public benefit corporation?
