NOVEMBER 23, 2007

COUNTY LEGISLATOR REYNOLDS ASKS BAYNES, ECFSA TO SUBMIT INFORMATION ON ITS WISH TO CONDUCT 2007 COUNTY BORROWING

Erie County Legislator Robert B. Reynolds Jr. (D-Hamburg, Evans) is requesting Erie County Fiscal Stability Authority Chairman Anthony Baynes to appear at the noon Monday, November 26, 2007, Finance and Management Committee meeting and submit in writing to the Legislature the authority's "full facts and details supporting the ECFSA's position that it can conduct the 2007 capital borrowing at a lesser cost than the County of Erie."

The letter sent to Baynes by Reynolds, chairman of the Finance and Management Committee, echoes the resolution the Erie County Legislature approved at its November 15 meeting in asking Baynes and/or other ECFSA officials to appear at the meeting to provide the supporting facts and information it believes validates the authority's call to have the Legislature vote to ask the ECSFA to conduct the county's 2007 borrowing. The authority voted to approve the XSpand tax lien sale plan only if the County Legislature asks the ECFSA to do its 2007 borrowing.

Legislator Reynolds asked Baynes and the ECFSA to submit the supporting material in writing to the County Legislature by 9 a.m. Monday, November 26, and the committee meeting, open to the public, will be held in the Legislature Chambers on the Fourth Floor of 92 Franklin Street, Buffalo.

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