House Bill: One More Advance Refunding for Power Bonds

Duff, Susanna
June 2003
Bond Buyer;6/10/2003, Vol. 344 Issue 31653, p4
Trade Publication
This article focuses on a resolution passed in the United States in the week of June 2, 2003 , which enables public power utilities to be able to advance refund tax-exempt debt used for electricity bonds one additional time. Introduced on June 3, 2003, the bill would allow an additional advance refunding for tax-exempt bonds used to finance the costs of electric generation, transmission, or distribution of assets owned by an issuer or by a consortium of state or local governments that includes the issuer and that jointly owns such assets. Congress may be more supportive of an advance-refunding bill for electric utilities in 2003 because states and local governments are facing reduced budgets and have incurred additional costs due to heightened security measures for public power companies in light of the threat of terrorism.


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