Senate lacks votes for Wenatchee arena bailout
Wednesday, November 30, 2011
OLYMPIA, Wash (AP) -- Key lawmakers say there aren't enough votes in the state Senate to approve a plan to bail out a Wenatchee-area agency on the verge of default.
Senate Majority Leader Lisa Brown, a Democrat from Spokane, said Wednesday afternoon that lawmakers had too many lingering questions about the plan. Republican counterpart Mike Hewitt said support on his side of the aisle was also small.
A key bond payment is due Thursday on debt for the Town Toyota Center arena in Wenatchee. State officials fear that a default will have a negative impact across Washington, making it more difficult for agencies to borrow.
The plan proposed by the treasurer would cover the bond payment by using cash in an account that collects local sales and use taxes. Local jurisdictions would pay it back over time.