While the privatization of governmental activities may have begun as an effort to obtain efficiency gains, increasingly privatization transactions have become a mechanism for surreptitiously borrowing money. One city’s 2008 decision to “sell” its parking meters for $1.56 billion provides a perfect example of this sort of revenue-driven “privatization.” The technique is almost infinitely expandable, and is increasingly attractive to cash-strapped governments seeking to avoid explicit tax increases or debt issuances. The Article lays out the difficulties engendered when municipalities incur debt through privatization transactions, and suggests legal changes that, if adopted, may reduce localities’ incentive to engage in inefficient transactions.
Volume 95 - No. 6
- Balancing First Amendment Rights with an Inclusive Environment on Public University Campuses
- Note: Affirmative Action: The Constitutional Approach to Ending Sex Disparities on Corporate Boards
- Academic Freedom To Deny the Truth: Beyond the Holocaust
- Free Speech, Higher Education, and the PC Narrative
- A Close-up, Modern Look at First Amendment Academic Freedom Rights of Public College Students and Faculty
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