Young Boozer III says his denial of state loan was in accordance with law.
Alabama State Treasurer Young Boozer says concerns about collateral have led him to reject a loan to Birmingham-Southern College. Boozer also took issue with the accusation that he’d said BSC was “not a good credit risk.” In a statement issued Sunday, he specified that his actual stated position is that it is a “terrible credit risk.”
That appeared to be a reference to comments Coleman made Wednesday, after the dismissal of the suit. “While the Alabama Constitution provides for immunity to state officials, such immunity should not apply to those who act arbitrarily or capriciously, or in bad faith, or who have misinterpreted the law in question,” Coleman said.
“The Treasurer has never wavered from the denial based on insufficient collateral and the lack of a first perfected security interest in all collateral assets,” Boozer wrote. He citedas a junk bond equivalent.
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