backdoor borrowing

Backdoor Borrowing

The act of a government borrowing without voter approval. This may or may not occur after the voters have refused to authorize a bond issue. The practice is controversial as it implies a lack of transparency in government actions and forces taxpayer money to be used to repay debt that voters did not want.

backdoor borrowing

Borrowing by a public authority without voter approval. Public authorities often use backdoor borrowing when voters reject proposed debt issues. Taxpayer funds are used to repay debt accumulated in backdoor borrowing.

单词	backdoor borrowing
释义	backdoor borrowing Backdoor Borrowing The act of a government borrowing without voter approval. This may or may not occur after the voters have refused to authorize a bond issue. The practice is controversial as it implies a lack of transparency in government actions and forces taxpayer money to be used to repay debt that voters did not want. backdoor borrowing Borrowing by a public authority without voter approval. Public authorities often use backdoor borrowing when voters reject proposed debt issues. Taxpayer funds are used to repay debt accumulated in backdoor borrowing.
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