Word: bond
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Dates: during 1960-1969
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...Bond Study...
...City will also finance a study of the bond issue that would finance construction...
...with the State Racial Imbalance Law. The School Committee's intransigence in racial matters has also delayed the building of a new English High School for over three years; the only available site has been in Roxbury. The Committee has yet to spend a cent of the $29 million bond issue, floated in 1963, for fear of disturbing the racial status...
...appointed by, and solely responsible to, the mayor. It would conduct long range planning, handle all finances, choose architects, and select building sites. It would have a budget immune to amendment by the City Council, and it would be able to bypass city regulatory agencies and float its own bond issues without regard to the city's statutory debt limit...
...almost immediate result, Merrill Lynch, Pierce, Fenner & Smith boosted its rates for margin loans from 6½% to 6¾% for small investors and from 5¾% to 6% for big ones. Most important, from Wall Street's viewpoint, tight money has made bonds more attractive than at any time since 1921. Many a $1,000-par medium-grade corporate bond is selling close to $900 and yielding about 6% ; some tax-free municipal bonds pay interest of 4%, which is as good as an 8% stock dividend return to an investor in a high-tax bracket. The current...