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USS Laffey repair loan default irks SC officials
Posted: 11.28.2010 at 2:14 PM
WACH Fox News Center

WACH Fox News Center covers stories around the Midlands and across the state 24 hours a day, seven days a week.

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COLUMBIA (AP) --

A $9.2 million loan default by South Carolina's naval museum for repairs to the World War II destroyer USS Laffey has state officials irked about promises the Patriot Point Development Authority made a year ago that it has no way to keep.

The loan is due Wednesday and the authority says it has no way to repay the money. That has state financial leaders questioning its credibility.

The authority borrowed the money for repairs in June 2009 amid fears that the destroyer sailors dubbed "The Ship That Would Not Die" would sink in a hurricane because its hull was leaking.

Patriots Point expected to be able to use federal money to repay the loan, but a clampdown on earmarks and change of control in the U.S. House has few expecting money now.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

 

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