John Cranley, a municipal bond attorney who won the election for mayor of Cincinnati this month, is attempting to fill promises made during the campaign by moving to kill two bond-funded projects ahead of his Dec. 1 start date, the Bond Buyer reports. One is the street car project, which the city has already committed $96 million to in bonds. The other is the plan to privatize the city's parking system by leasing it to the Cincinnati Development Authority for 30 years. "Cranley and seven members of the incoming City Council formally asked the port authority to drop plans to issue bonds to finance their purchase of the city's parking system" just days before the port authority "planned to sell up to $130 million of bonds to finance the deal," the article said.
Incoming Cincinnati Mayor John Cranley moves to kill two bond-funded projects
