Word: putnam
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...purpose of the bond issue--the largest ever managed under the auspices of the state's Health and Educational Facilities Authority (HEFA)--is "to stabilize the cost of money" for the Universities various department carrying on major construction or renovation projects, explained College Treasurer George Putnam...
...Putnam said "We're lending at the tax exempt rate, but we can invest our own money at the taxable rate...
...Putnam and Financial Vice-President, Thomas O'Brien, said they don't expect interest rates to drop much further than they have in recent months and that they believe Harvard is well-positioned to profit nicely from the sale if interest rates start back up again...
...Putnam said that the Corporation would not discuss any investment issues at its meeting today...
...Putnam said the Corporation---Harvard's equivalent of a Board of Directors--is waiting for the report and has not discussed the issue this year. "We haven't really focused on it at all," he said...