The phrase "authority debt" is not a standard expression in written English and may cause confusion.
It could potentially be used in contexts discussing financial obligations related to authority figures or institutions, but clarity is essential.
Example: "The company is struggling to manage its authority debt, which has led to increased scrutiny from regulators."
Alternatives: "government debt" or "regulatory debt".
And then there is authority debt, public authority debt.
Public authority debt is not counted by the rating agencies because it's backed by revenue.
The authority debt, our authorities, a number of them have been upgraded, as well as the state.
Most of the authority debt, to go toward building and equipping the plant, was issued under a federal stimulus program allowing private investors to use tax-exempt municipal financing.
And while Albany is not legally responsible for many authority debts, the state is widely considered the true payer of last resort, because a failing authority would generate immense political pressure on the governor and the State Legislature to come to the rescue, as they did in the 1970's.
The report says unions should consider how municipalisation of public services could be appropriately pursued, and how local authority debts could be taken over by the Treasury.
The restructuring also depends on a deal to lease some city parking garages to an outside vendor and have a new state borrowing authority issue new debt to replace existing parking-authority debt.
Authorities' debts are up almost 70% since the end of 2010, according to wide-ranging research from the country's national audit office.
Stockton may be headed for Chapter 9 bankruptcy this week after pledging taxpayer money to backstop authorities' debts for a hockey arena and other showcase buildings.
Two firms, Standard & Poor's and Fitch, gave the authority's debt an "A" rating, but both raised concerns about the agency's reliance on debt to finance capital projects.
The $160 million will be immediately available to pay off the authority's debt on the Continental Arena and save taxpayers $90 million in future interest payments.
