Word: refundability
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Simple Deduction. In Portsmouth, N.H., a man walked into the office of the Internal Revenue Service, filled out a tax form, sat quietly in a corner, when asked if he needed help, replied: ''No, I'm just waiting for my refund check...
...bill provides that the ceiling may be exceeded by bond issues totaling up to 2% of the federal debt whenever the President decides that the national interest requires it. It also provides that the Treasury may 1) refund in advance of maturity some $20 billion outstanding Government securities, replace them with new long-term bonds that have virtually no restrictions on their effective interest rate; and 2) remove the 4¼% ceiling on savings bonds and special Treasury issues sold to such Government trust funds as Veterans Insurance and Social Security...
Every economist agrees that the U.S. Treasury is in a tough spot to refund Government issues that are constantly coming due. With top-grade corporate issues bringing more than 5%, the Treasury cannot sell long-term bonds limited to a 4¼% ceiling. The Treasury is forced to get its money by short-term issues, has to keep going to the market to raise cash, thus disrupting short-term borrowing for business and helping to drive up rates...
...enter teaching. Thus, if the University administered these loans without the oath and were then enjoined to return the funds to the government, full restitution would be necessary. And students who had borrowed with the intention of repaying only fifty per cent of their loans would either have to refund the full amount, or the University would have to make up the other fifty per cent...
Birth Pangs. In Hartford, Conn., D. A. McGann sent $5 to the police for a parking ticket with an explanatory note: "It was a girl. Delivery costs $5 more than anticipated," got an answer: "Congratulations, but no refund...