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20-year contracts for incinerator bonds
A retired U.S. Navy man living in Louisiana claims it is illegal for a
government entity to enter into a contract for 20 years. I'm told that
he said that the Navy would have to enter contracts for 5 years with
options.
The citizens in Southeast Louisiana who are fighting this alleged closed
loop incinerator wonder who would lend the incinerator company $30
million with less than a 20 year guarantee. Does anyone anyone know if
there is anyway of finding out it 20 year contracts by government
entities are illegal?
Susan Snow