Municipal Bonds News
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Jefferson County, Alabama, officials extended until mid-September talks with creditors holding $3.14 billion of sewer bonds after rejecting a proposed settlement to avert what would be the biggest U.S. municipal bankruptcy.
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Brown University is unwinding an interest-rate swap with Goldman Sachs Group Inc. that may cost one of the world’s richest schools about $5 million.
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Governor John Kasich said he is convinced that leasing the Ohio Turnpike is “a winner,” even as current and former governors in neighboring states say they doubt he would get as much as they did for their toll roads.
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JPMorgan Chase & Co.’s Charles LeCroy said the key to landing bond deals in Jefferson County, Alabama, was finding out whom to pay off. In one example, that meant a $2.6 million payment to Bill Blount, a local banker and longtime friend of County Commissioner Larry Langford.
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