The Pennsylvania Liquor Control Board on Friday voted to hire financial and legal advisers to help pursue Gov. Wolf’s proposal to borrow $1.25 billion against future profits of the state’s alcoholic beverage monopoly, even as those profits are under pressure, writes Harold Burbaker for philly.com. 

Public Financial Management Inc. was hired to provide financial advice under an existing state contract. The law firm is Eckert Seamens Cherin & Mellott LLC, which is already under contract to provide intellectual property advice to the PLCB. Each have a $300,000 cap on their contracts.

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The borrowing, which could happen by the end of the year, could have a major side effect of preventing the privatization of the state liquor system for the duration of the borrowing, unless taxpayers were willing to buy out the investors before the lending term ended.

The vote was 2-1, with board member Mike Negra voting against the proposal, though he pledged to work with the board’s two other members on the plan.

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