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Rendell says he'd close PATCO over dredging fight
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| Parent(s) |
Candidate
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| Contributor | RP |
| Last Edited | RP Dec 29, 2005 08:29pm |
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| Category | General |
| Media | Newspaper - Philadelphia Inquirer |
| News Date | Friday, December 30, 2005 02:00:00 AM UTC0:0 |
| Description | With days to go before the Delaware River Port Authority's annual budget deadline, the bistate battle over the long-stalled deepening of the Delaware River shipping channel ramped up yesterday.
A spokeswoman for Gov. Rendell, who as authority chairman is holding up the budget to prod New Jersey into approving the deepening project, said he was willing to go so far as to shut down the PATCO High-Speed Line or even back legislation that would dissolve the agency.
The head of the port authority's New Jersey delegation, Jeffrey L. Nash, said Rendell was being "irresponsible" for holding up agency finances. Nash, the agency's vice chairman, said the fight had already cost bridge toll-payers about $750,000 in bond interest from a refinancing deal that Pennsylvania did not approve last week.
New Jersey has resisted efforts to deepen the shipping channels, saying the project is too expensive and would damage the environment.
If the port authority does not approve its budget by the end of Saturday, the agency will be in technical violation of its bond agreements, which Nash said could affect its bond ratings and make borrowing more expensive. The agency runs PATCO and the Ben Franklin, Walt Whitman, Betsy Ross and Commodore Barry Bridges. |
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