Minnesota Budget Passage Clears Deck for $400M Refunding

Shields, Yvette
June 2003
Bond Buyer;6/2/2003, Vol. 344 Issue 31647, p3
Trade Publication
This article reports that fresh from the passage of a $47 billion two-year budget that includes $750 million of new borrowing, Minnesota can now move forward with plans to competitively sell on June 17, 2003, nearly $400 million of general obligation bonds to refund now-callable 1993 debt. Before announcing the bond deal, finance officials were awaiting passage of the budget to update the state's financial information in time to meet investor notification deadlines. The outstanding bonds currently pay interest rates in the low to mid-5% range.


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