Major South Carolina cities won't ask for federal bailout money

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Major South Carolina cities won't ask for federal bailout money

Story Published: Nov 14, 2008 at 4:59 PM EST

Story Updated: Nov 14, 2008 at 9:21 PM EST

COLUMBIA, S.C. (AP) - Mayors in major South Carolina cities say
they won't join others around the country in asking the federal government to use a portion of the $700 billion bailout to assist
struggling cities.

Columbia Mayor Bob Coble and Greenville Mayor Knox White said
Friday their cities have found ways to deal with economic
downturns.

Coble said his city has reviewed its finances and could implement a 5 percent budget cut if needed.

Knox said his city has a reserve fund it has been building over the last several years.

Mayors in Philadelphia, Atlanta and Phoenix asked federal
officials Friday to help with pension costs, infrastructure
investment and cash-flow problems stemming from the global
financial crisis.

They made their request in a letter to Treasure Secretary Henry Paulson.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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