ALBANY - A proposed constitutional amendment to reform New York State's long-term borrowing practices received constructive criticism yesterday from a Wall Street bond analyst and a stern rebuke from an anti-debt advocate during a legislative hearing on the issue.

The hearing, sponsored by a task force of Republican state assemblymen, also featured testimony from an official representing a state bonding authority who said his agency's debt sales would be reduced if and when the proposed constitutional amendment takes effect.

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