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Originally Posted by afc wimbledon
To me it reads that the state can invest in companies it at times ends up owning, I assume this means water or power companies or the like and they can invest in stocks and bonds like any other shareholder.
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Exactly. Now if the City Of Glendale was using the payments to own the Coyotes instead of just covering debt for a future buyer then the city would have a case. I can't see how using taxpayers money to cover the expenses of a sports team that will be owned by somebody other than the city of Glendale can be legal.