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| Re: Should the city take back its buses and subways? (1507187) | |||
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Re: Should the city take back its buses and subways? |
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Posted by Stephen Bauman on Sat Mar 16 17:25:02 2019, in response to Re: Should the city take back its buses and subways?, posted by randyo on Sat Mar 16 16:11:26 2019. Nassau County got its buses out from the MTA without Cuomo getting upset.Back in the pre MTA days, the rolling stock was actually purchased by and property of the City of New York. The NYC purchases were the result of NYCTA selling the IRT and BMT power plants to Con Ed. NYC received the proceeds and doled them back to NYCTA. When NYCTA and MTA could not finance through asset sales, they resorted to floating bonds. The bigger question is who will be responsible for the bonds and other long term liabilities, if NYC exercises its option to leave the MTA. |
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