BRADENTON, Fla. — Faced with falling revenues, Florida Gov. Charlie Crist yesterday unveiled a $70 billion fiscal 2009 budget plan that taps reserves and relies on non-recurring funds for recurring programs, as well as funds from a tribal compact that is currently in a legal dispute.

Crist also proposed authorizing more than $2 billion in new debt, including issuance of the state’s first grant anticipation revenue vehicles bonds, or Garvees.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.