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If you are a citizen of Delaware, you’ll never get tired of hearing about this. Bond agencies once again praise Delaware’s responsible management of taxpayer dollars.
Delaware Receives Triple-A Rating
Also noteworthy, the Delaware will issue taxable bonds known as Build America Bonds taking advantage of the bonding provisions contained in the America Recovery and Reinvestment Act. The Build America Bonds, which earn a 35% subsidy from the federal government, will be sold to institutional buyers.
A 35% subsidy from the federal government?! Bailout city. The bottom line is that these bonds may represent a more cost effective alternative for the State than traditional tax-exempt bonds.
Retail Build America Bonds bonds will be available from the following brokers:
Morgan Stanley (877) 937-6739
Barclays Capital (800) 392-5000
Janney Montgomery Scott LLC (888) 567-4759
J. P. Morgan (888) 299-7553
Merrill Lynch (800) 937-0424 (Wilmington)
(800) 487-4518 (Rehoboth Beach)
(800) 937-0631 (Dover)
Stone & Youngberg LLC (800) 423-1992
