TITLE

Delay in Water Refunding Leads Wisconsin to Miss Out on $3.8M in Savings

AUTHOR(S)
Shields, Yvette
PUB. DATE
December 2004
SOURCE
Bond Buyer;12/2/2004, Vol. 350 Issue 32021, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that Wisconsin lost an estimated $3.8 million in savings it had expected to collect from a $ 100 million clean water revenue refunding because interest rates moved up while the state waited several days for the consent of its auditor, Deloitte & Touche LLR to use previously published financial statements in its offering documents. Wisconsin's situation mirrors one reported this week by Clark County, which had to delay its $101 million general obligation refunding because Deloitte denied consent to publish the county's 2(X)3 financials in the deal's offering statements.
ACCESSION #
15256818

 

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