The city of New Orleans sold its first bonds in two years on Wednesday, a $40 million issue to Morgan Keegan & Co., with the proceeds slated for local street projects.
The Board of Liquidation, City Debt voted to sell to Morgan Keegan, because it offered the city the lowest true interest cost with a projected average rate of 5.4 percent over the debt's life. It was brought that low under terms of the so-called Build America Bonds which dictate the federal government also pays a share of interest.
Posts
No comments:
Post a Comment