If the Tri-cities are so convinced their scheme will work, why not issue Revenue Bonds instead of General Obligation (GO) Bonds. Revenue Bonds have tradtional been used for projects that are supposed to fund themselves (i.e. the tollway system) That way if the project fails it is the bond holders and not the tax-payers who are left holding the bag. If the plan is viable there would plenty of investors stepping forward to purchase the bonds. Maybe the investment community doesn't think the plan is viable. By using GO's it is the tax payers taking the risk, not the bond holders.
pnh102 Reptiles Are Cuddly And Pretty Premium join:2002-05-02 Mount Airy, MD
said by batageek:Much lower interest rates for GO bonds than Revenue
Of course! The governments involved don't have to care how well these bonds do investment-wise because they know that taxpayers will be bailing them out no matter what. -- Pissed off at traitorous, ungrateful musicians? Don't just boycott them! Trade their MP3s and really screw them over! And don't forget, 2 out of 3 human shields agree! Saddam really is evil!
