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Daniels burns mortgages to mark lower Indiana debt

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Indiana Gov. Mitch Daniels says the state government's debt for construction projects and other expenses has dropped by more than half during his eight years in office.

Daniels and other state officials on Wednesday marked the early completion of payments on 10 state facilities by ceremonially burning the mortgage paperwork in a trash can outside the Statehouse.

The governor's office says the total state debt has gone from $3.6 billion to $1.7 billion since early 2005. That debt includes financing for buildings and roads and delayed payments to school districts and universities.

The paperwork burned included that for two office buildings and two parking garages near the Statehouse, White River State Park in Indianapolis and prison facilities in Pendleton, Rockville, New Castle and Plainfield.

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  • Sad
    We will not have a better Governor of Indiana in my lifetime and I am only 33. Gov. Daniels has saved this state from bankruptcy and put it on a bright fiscal path to the future.
  • thankyou for a job well done
    thankyou so much for a job well done,i would vote for you to be president,but we have to get all the clowns out of dc so you can do your job without the bickering,they need all to go,so we can get this great country going again.
  • Mcdaniels
    Yeah, and the roads are the worst they have been in 8 years.
  • Tell the whole story
    Does the $1.7 bill include or exclude the $ 2 bill owed to the Feds for shoring up IN unemployment fund. Are unfunded state pension obligations discussed? Why not? Why not disclose the state leases Mitch and his minions gave to Bales and others. Is that in the billions?

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  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

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