Monday, November 20, 2017
 
 
News: Page (1) of 1 - 09/04/11 Email this story to a friend. email article Print this page (Article printing at MyDmn.com).print page facebook
Cities, states back off bonds amid budget concerns
Local governments backing away from bonds amid continuing concerns about tight budgets
By The Associated Press

JEFFERSON CITY, Mo. (AP) ' The budget crunch affecting many cities and states has contributed to a steep drop in the number of municipal bonds issued this year ' and that means some residents may have to wait longer for repairs to aging streets, water pipes or schools.

Through mid-August, the total value of municipal bonds issued nationwide was down about 40 percent compared with the same period a year ago ' the largest decline in about two decades.

Market analysts attribute some of that drop-off to a natural slowdown after last year's rush to issue bonds before a federal stimulus program expired. But another reason is that government budgets are stretched so tight that local officials are not willing ' or able ' to siphon scarce tax dollars toward additional debt payments.




Page: 1


 
 
 
 
 
 
 
 
 
 
 





Our Privacy Policy --- About The U.S. Daily News - Contact Us - Advertise With Us - Privacy Guidelines