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by Staff reportsIn perhaps the most closely watched of the primaries held Tuesday, Hampshire Sen. Robert C. Smith became the first incumbent U.S. senator to lose the Republican party's nomination in a decade when he was defeated by U.S. Rep. John E. Sununu., Smith, was the ranking Republican on the U.S. Senate's Environment and Public Works Committee. His ouster leaves an opening for Sen. John Warner, R-Va., or James Inhofe, R-Okla., to take over as the top Republican on the committee or head it should their party retake control of the Senate in November., In conceding defeat Tuesday evening, Smith paraphrased Charles Dickens, Smith was knocked by many after he left the Republican Party in a failed bid as an independent in the 2000 presidential election, only to return to the party., In other Sept. 10 elections, District of Columbia Mayor Anthony A., Williams managed to retain his spot on the Democratic ticket despite the controversy surrounding his nomination papers, which forced him to conduct a write-in campaign in the primary., Also, while he still leads polls and has the Republican Party, nomination sealed, In Florida, which in an echo of the 2000 elections experienced more, problems at the polls, municipal bond industry whistleblower Michael, Lissack lost in a primary bid to run for a seat on the Collier County, Commission., DISTRICT OF COLUMBIA, Williams easily secured a spot on the Nov. 5 general election ballot as, the official Democratic candidate, a move that virtually guarantees his, election in the overwhelmingly Democratic city., Williams' victory came despite the district's Board of Elections and, Ethics striking his name off the primary ballot for widespread, irregularities on his nominating petitions and fining him $277, 700 for the, irregularities, the largest election-related fine in the city's history., Official results from the balloting on Tuesday will not be known for, several days because the large number of write-in votes has significantly, slowed the official counting process., With 138 out of 141 precincts reporting and 97.87% of the ballots, counted as of early Wednesday morning, 311 or 91.38% of Democratic Party, votes that had been cast for the position of mayor were write-ins, election board reported., Exit polls conducted by the Washington Post on Tuesday showed Williams, with a commanding 3-to-1 lead over his closest rival, Rev. Willie F. Wilson, a Baptist minister who was also a write-in candidate., FLORIDA, All eyes were once again on the state as the release of Tuesday's, primary election results were hampered by equipment problems and the, outcome of the Democratic gubernatorial election was threatened by legal, challenges., In Miami-Dade County, which sold $119.8 million of special obligation, bonds Tuesday with some of the money earmarked for new voting machines, some polls did not open on time and voters were turned away because of, equipment problems., The same was true in Broward County, which spent $17 million on a new, electronic voting system, as well as a few other counties, Bush said when he ordered the extension., While more ballots needed to be counted, Bill McBride appeared to have, edged out former U.S. Attorney General Janet Reno. McBride is a former partner at Holland & Knight, Florida's largest law firm and high-ranking bond counsel., Reno, who said she experienced problems voting in Miami-Dade, threatened to file a lawsuit contesting the election., In Collier County, Lissack, a former Smith Barney Inc. banker-turned, whistleblower, was trounced yesterday in his bid to become the Republican, candidate for a Collier County Commission seat., Despite his loss, Lissack, who received only 17% of the vote, said he, would not be deterred from further involvement in Collier County's, Lissack's allegations of yield-burning abuses led to a massive federal, probe and enforcement action against Smith Barney and other firms in the, 1990s. He helped Collier County officials and their lawyers file a class action yield-burning suit against almost 20 broker-dealers that the firms eventually settled for about $4 million., MARYLAND, Overcoming the governor's support for his opponent, state comptroller, and octogenarian William D. Schaefer overwhelmingly won his party's nomination for re-election in Tuesday's primary., Schaefer defeated Secretary of State John T. Willis, who received support and funding from Gov. Parris Glendening, whose second term as governor ends in January. Glendening is Schaefer's long-time rival in the state Democratic Party., Schaefer, is a former two-term Maryland governor who also served, four terms as Baltimore's mayor. He will face Republican Gene Zarwell, a marketing consultant from Anne Arundel County., Schaefer said he intended to run a strong campaign against Zarwell., We'll run a full-fledged campaign, same as we did, Schaefer is a member of the powerful state Board of Public Works, along, with Glendening, that is responsible for overseeing the state's, expenditures and general obligation bond issues., Meanwhile, Lieut. Gov. Kathleen Kennedy Townsend, a Democrat, and Republican Robert L. Ehrlich Jr. easily won their party's nominations in the governor's race. State Sen. Barbara A. Hoffman, a 20-year veteran and chairwoman of the Senate Budget and Taxation Committee, fell victim to a redistricting process that altered her district in Baltimore. She was defeated by first-term Del. Lisa A. Gladden, who received strong support from the city's top African-American leaders., NEW HAMPSHIRE, Democratic Gov. Jeanne Shaheen, who was unopposed in the primary, will face Republican Sununu in a battle for the U.S. Senate seat in November being vacated by Smith, who lost to Sununu in the Republican primary., Democrats picked two term state senator Mark Fernald Tuesday to run to, replace Shaheen in November while Republicans picked wealthy businessman, Craig Benson. Fernald supports introducing a state income tax while Benson, who spent $9 million to win the Republican nod, the most spent by a gubernatorial primary candidate, has vowed to veto such a measure., While Smith was derided by some for his extremism, and his decision to, run for president in 2000 as an independent candidate, he was a backer of, the use of tax-exempt bonds by private firms to finance transportation, projects., For instance, the controversial two-term senator recently signed on to, a letter urging the Department of Transportation to explore innovative, financing techniques for funding transportation infrastructure., Last year, he introduced a bill that would allow private companies to, use tax-exempt bonds to finance the construction of transportation, infrastructure projects and exempt bonds issued for private mass transit, high-speed rail, and highway projects from the state volume caps on, private-activity bonds., NEW YORK, Former New York City Comptroller Alan Hevesi, who last year mounted an, unsuccessful mayoral campaign, cruised to an easy victory in the Democratic, primary for state comptroller, crushing opponent William Mulrow., Hevesi will face Republican John Faso, the former minority leader in, the New York State Assembly, in November's general election., As expected, McCall easily claimed the Democratic nomination for, governor, following last week's withdrawal of challenger Andrew Cuomo., McCall will now face incumbent Republican Pataki, as well as Independence Party nominee Golisano., Golisano, a billionaire from Rochester who has unsuccessfully run for, governor twice before, edged out Pataki for the Independence party nod, following a contentious and bitter campaign between the two camps., WISCONSIN, Gov. Scott McCallum and Attorney General Jim Doyle will vie for the governor's office in November along with Libertarian Party Ed Thompson, the brother of former Gov. Tommy Thompson., McCallum, a Republican, won his party's primary over two little known, candidates -- real estate agent Bill Lorge and teacher George Pobuda --, with 86% of the vote. Doyle won the Democratic nod with 38% of the vote compared to U.S. Rep. Tom Barrett's 35% and Dane County Executive Kathleen Falk's 27%., The state's fiscal woes and a looming $1.3 billion deficit in the next, budget cycle will likely be a key issue in the general election. Doyle and McCallum both have promised that taxes would not be raised to shore up the budget, but neither has spelled out in full detail how the state would cope with the looming deficit., Both have floated proposals that have been met with controversy. Doyle has called for state job cuts, angering state unions, Lynn Hume, Ryan McKaig, Humberto Sanchez, Yvette Shields, Shelly Sigo, Matthew Vadum, Alison Vekshin contributed to this article.
Published in Bond Buyer (2002)
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by ILLINOIS, Burris Runs, Former state Attorney General Roland Burris made it official, earlier this week he is a candidate in the Democratic primary for, governor., Burris, has run twice for the Democratic nomination for, governor. He finished second four years ago. He also ran in 1995 for mayor of Chicago., Burris joins a crowded field of candidates who have announced or, are considering a bid, including former Chicago Public Schools chief, Paul Vallas, U.S. Rep. Rod Blagojevich, D-Ill., former state school superintendent Michael Bakalis, former state Treasurer Patrick Quinn, and state Rep. Louis Lang, D-Skokie., Yvette Shields, Back to Market, The state returned to the municipal market last week with a $110, million sales-tax backed Build Illinois refunding issue that had been, pushed back from its original sale date by the terrorist attacks on, Sept. 11., We have moved forward to demonstrate our faith in the strength of, Gov. George Ryan said in a statement., Morgan Stanley and First Albany Corp. served a co-senior managers., The bonds carried an average interest rate of 4.61% and will produce a net present value savings of $9.1 million. The bonds were priced on Thursday., The deal was rated Aa2 by Moody's Investors Service, AAA by, Standard & Poor's, and AA-plus by Fitch., Bureau of Budget deputy director Mike Colsch said the state was, comfortable returning to the market with a longstanding credit such as, the Build Illinois bonds., The state has two additional deals planned: $300 million of general, obligation bonds, Colsch said., Yvette Shields, IOWA, Polk Delay, Polk County officials are weighing how to proceed with their, bonding plans for the $200 million Iowa Events Center because of a, lawsuit that challenges a portion of the bond issue., The lawsuit was filed by a Des Moines resident after the county, board of supervisors declined to hold a referendum on a portion of the, bond issue because residents were 600 signatures short of the 18, needed. The lawsuit charges that the county should have given residents more time or put the measure on the ballot., County spokesman Phil Roeder said Polk planned to sell about $150, million of GOs for the project which includes an arena, auditorium, and exhibition hall as soon as this week. But the county's bond counsel recommended postponing at least a portion of the deal until the lawsuit is resolved., The county is considering selling about $90 million of essential-, purpose GOs to finance the auditorium and exhibition hall portions., Those bonds do not require any other approval and would not be subject to a potential referendum because they are related to the existing veterans' auditorium, and a provision in state law allows the county to make improvements to that existing structure without voter approval., Yvette Shields, OHIO, Negative Revision, Citing a steady decline in liquidity, Standard & Poor's this week, revised to negative the outlook on bonds issued for a health, corporation by Belmont County and the Ohio County Commission, W.Va., The rating agency also affirmed its BB underlying rating on the, revenue bonds issued for the Ohio Valley Health Services and Education, Corp. The rating affects $39 million of long-term debt., The corporation has two hospitals on the Ohio River, one in, Wheeling, W.Va., and the other in Martin's Ferry, Ohio. The corporation also owns a nursing and rehabilitation center, according to Liz Sweeney, health care analyst for Standard & Poor's., Moody's Investors Service and Fitch do not rate the bonds., Mary Wisniewski, Harveysburg in Crisis, State auditor Jim Petro last week declared a fiscal emergency in, the village of Harveysburg in Warren County., A state and local commission will now oversee the village's, finances. Harveysburg has a deficit that is $83, 630 above the state's limit. Also, the village had a treasury deficiency of $73, 397 as of July 31, according to a statement from Petro's office., The commission is made up of representatives for the state, treasurer's office, the director of the state Office of Budget and, Management, the mayor, and the village council, plus three appointed, members chosen from five names provided to Gov. Bob Taft by the mayor and presiding officer of the council., Mary Wisniewski
Published in Bond Buyer (2001)
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