Investing in Communities: Reinstating Advance Refunding Bonds
This act aims to restore the ability for local governments and public entities to issue special bonds that refinance existing debt. This can lower borrowing costs, potentially freeing up funds for local investments and public services like schools or roads, without increasing taxes for citizens.
Key points
Allows local governments and public entities to refinance existing debt, potentially leading to cost savings.
Potential savings can be used for local infrastructure and services, such as education or transportation.
Establishes rules for the number of possible refundings and redemption dates to prevent misuse.
Expired
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