March 2, 2009

Stimulus Law Offers Breaks for Public-College Bond Issues

By Goldie Blumenstyk

Washington

Tucked into the economic-stimulus package signed into law last month by President Obama is a new financial tool, Build America Bonds, that could help public colleges and public academic medical centers save money when borrowing for capital projects.

The bonds, which are available to government issuers but not private colleges, would be taxable securities subsidized by the federal government.

The subsidy would come in one of two ways. In some instances, buyers of

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