Gov. Jim Doyle last week signed into law legislation that paves the way for Milwaukee County’s proposed bond financing to eliminate its $406 million unfunded pension liability.

“I’m pleased that Gov. Doyle has, from the beginning, strongly supported [pension obligation bonds] to help reduce pension costs in Milwaukee County. His Task Force on Milwaukee County Finances in 2006 also recommended giving Milwaukee County the authority to issue POBs,” board chairman Lee Holloway said in a statement.

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