Word: bond
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Dates: during 1980-1989
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...prison and fines of $985,000. Ellis told TIME last week that he first met Blay-Miezah in 1972 when the Ghanaian was being held in a Pennsylvania prison after failing to pay a large bill at Philadelphia's Bellevue Stratford Hotel. After Ellis assisted him in posting bond and paying off the hotel bill, Blay-Miezah promised to pay back his new friend "with considerable interest" and took him on as his partner in the trust deal. Ellis maintains that the trust is legitimate, saying, "I still have faith that the long-suffering investors will be compensated...
...fund this increase, the budget recommends that the council pass a bond authorization of $9 million as the first phase in a five year program, The budget says that this is "made possible by the city's strong financial condition...
...Dukakis administration became embroiled in controversy last week when a new budget estimate, predicting a surplus of $509 million, was announced in a bond prospectus, a document that normally receives little attention...
...week's end even Packwood conceded that his plan was doomed, and a semblance of order returned to the bond market. Even so, interest rates were higher than many municipalities had expected. Milwaukee County called for bids on $17,450,000 in tax-exempt bonds, hoping to pay interest of no more than 6.71%. Instead, investors would go no lower than...
Last week's turmoil added to the uncertainty that has been plaguing the muncipal-bond market for months. In December the House passed a tax-reform bill that would place a 25% minimum tax on certain munis, including bonds to build stadiums and industrial parks. Investors and municipalities that depend on bond issues will not know where they stand until tax reform finally passes Congress or dies...