BRADENTON, Fla. — Georgia Gov. Sonny Perdue Thursday said the state could not refinance $424.4 million of transportation debt because the board that oversees road projects has voted to ­maintain accounting practices that violate state law.

The unauthorized accounting practices were uncovered last year by the state’s auditors and inspector general investigating deficits at the Georgia Department of Transportation.

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.