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Los Angeles Government Agencies Federal Aid

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June 26, 1998 | JEFFREY L. RABIN and RICHARD SIMON, TIMES STAFF WRITERS
Stunned by disclosures that the Metropolitan Transportation Authority has amassed $7 billion in debt to build a skeletal rail system and an elaborate headquarters, the agency's directors approved a new budget Thursday, but took steps to impose a limit on borrowing and on the MTA's habitual practice of using money obtained for one project to pay for another.
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NEWS
June 26, 1998 | JEFFREY L. RABIN and RICHARD SIMON, TIMES STAFF WRITERS
Stunned by disclosures that the Metropolitan Transportation Authority has amassed $7 billion in debt to build a skeletal rail system and an elaborate headquarters, the agency's directors approved a new budget Thursday, but took steps to impose a limit on borrowing and on the MTA's habitual practice of using money obtained for one project to pay for another.
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