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Pages 20-22

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From page 20...
... 21 IntroductIon For the survey conducted as part of this synthesis project, respondents were asked to identify elements of their own debt management practices likely to be of most interest to other states. This chapter highlights select survey respondents' observations in terms of emerging and highlighted debt management practices and policies.
From page 21...
... 22 notes the state considers cash flow and the ability to service the debt, as well as the length of time remaining in the current federal aid program authorization, rating agency, and market outlook regarding Congressional action and the length of time remaining on any voterapproved tax, which may be the secondary pledge. Pennsylvania's process for deciding whether to support debt with state or federal funding is done through discussions with the governor's Office of Budget.
From page 22...
... 23 the available deferment period under TIFIA, using funds that otherwise would go toward principal repayment to fund paving and bridge projects that would have been delayed significantly without such deferment. The low interest rate also is favorable to the projected inflation that would have increased costs on the projects.

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