Claims And Issues: "Civic-Facility Bonds" Defined.

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April 04, 2008

"Civic-Facility Bonds" appear to be a type of Municipal Bond issued by "industrial development authorities". Sadly, they can include "auction-rate debt," it is reported by Darrell Preston & Linda Sandler, "Horace Mann Yields Surge as Schools Stuck by Auctions (Update 1)" (Bloomberg.com, Wed., March 26, 2008).

A definition a day helps the lack of knowledge go away. Still, the question is: Is Bond Insurance really necessary for the party that issues Municipal Bonds or the party that buys Municipal Bonds, of any kind?

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Posted by Dennis J. Wall on April 04, 2008 at 05:35 AM | Permalink

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Claims And Issues