Gov. Phil Bredesen is backing legislation that would enable Tennessee to issue $262 million of debt, most of which would be in lieu of using cash to support economic development projects.

Bredesen submitted the legislation as part of a fiscal management package to give the state more flexibility in the current recession. Some measures in the package are designed to assist state workers who may face layoffs and furloughs.

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.