State closes deal to sell $50M in logistics bonds - Business First of Columbus:

shelly-polymer.blogspot.com
State Treasurer Kevin Boyce said the bond sale was part ofa $100 millio logistics and infrastructure program earmarke in the $1.57 billion jobs-creation stimuluzs package that Gov. Ted Strickland signef last year. Funding is being made available to improve and expand logisticd and intermodal centers around the A step forward for the stat e stimulus package came with helpfrom $787 billion stimulus legislation. Boyce said the stats estimates saving morethan $2 million by issuingb the debt under the Build America Bond program.
That stimulus-create d program allows state and loca governments to issue taxable bonds for capital projectzs and receive a federal subsidy paymengt from the for a portion ofborrowing costs. The government has said advantages come in the form of cost savingz and a broader rangeof investors. Boyce said the $50 million bond sale is the first time the state has used the Builed AmericaBonds program.