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  Sam Katz in debt after latest run for [Philly]mayor
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ContributorUser 490 
Last EditedUser 490  Dec 06, 2003 11:10pm
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MediaNewspaper - Philadelphia Inquirer
News DateSaturday, December 6, 2003 06:00:00 AM UTC0:0
DescriptionUndeterred by pre-election polls, Republican Sam Katz went heavily into debt for a massive Election Day operation - the kind that might have gotten him elected had he done it in 1999.

This year, all it got him was deeper into debt.

Katz borrowed $500,000 from a Wilmington bank, guaranteeing the loan personally, to meet his budgets for political advertising and election-day street money. The campaign owes nearly $400,000 more to a variety of vendors, on top of $225,000 that Katz lent personally to his campaign, earlier in the year.
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