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State facing budget woes as local aid payment due

By Matt Viser
Globe Staff / September 25, 2008

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State Treasurer Timothy P. Cahill said yesterday that the state must take dramatic steps - borrowing at a higher interest rate than usual and tapping the state's rainy day fund for $310 million - to make sure it has enough cash to make local aid payments due next week to cities and towns. (Full article: 734 words)

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