COLUMBIA, S.C. (AP) -- Gov. Nikki Haley wants a legislative panel to approve borrowing $123 million for promised infrastructure for Volvo, even though legislators want to pay for most of it in cash.
Haley insists that the Joint Bond Review Committee authorize borrowing the full amount. She says Volvo wants the roadwork and site preparation funded that way, though legislators question why Volvo would care. Volvo officials are not commenting.
The committee is considering the request Wednesday. Committee chairman Sen. Hugh Leatherman says he cannot support a financing arrangement that requires paying $87 million in interest to borrow $123 million.
Haley points to letters of support Leatherman and House Speaker Jay Lucas provided in April.
Leatherman says that was before a revenue windfall became available and before he was provided details on the terms.