Politics
Originally published on Tue March 6, 2012 12:00 am
By Austin Jenkins
OLYMPIA, Wash. – A follow-up now to a story we first brought you in December. It was about the default of an under-performing hockey and concert arena in Wenatchee, Washington. Governor Chris Gregoire recently signed into law a rescue plan for that project. But the new law also aims to prevent future municipal defaults.
Here’s the quick back story. On December 1st of last year, the Town Toyota Center in Wenatchee went into default. This happened after the two counties and seven small cities that backed the events center missed a $42 million balloon payment.
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