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Article: Policies adopted for nontraditional municipal financing instruments.(property tax liens; variable-rate debt; taxable debt)(Government Finance Officers Association Annual Conference 1997)
- Article from:
- The Bond Buyer
- Article date:
- June 3, 1997
- Author:
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The Government Finance Officers Association Committee on Debt and Fiscal Policy Saturday adopted recommended practices on a series of municipal financ- ing mechanisms outside the realm of traditional tax-exempt debt - the sale and securitization of property tax liens, and issuance of variable-rate and tax- able debt.
The practices, which all urge caution and a careful review of the fiscal and legal implications of using these methods, will be considered for final adop- tion in October, GFOA officials said.
In all cases, the committee recommended that governments select legal and financial advisers with demonstrated experience in the transactions being ...