N.J. officials urge investors to buy bonds of Sandy-struck towns, citing safety, soundness (Bloomberg / NJ . com)

EXCERPT:

January 16, 2013 – New Jersey is urging investors to buy debt of municipalities hardest-hit by Hurricane Sandy, saying they remain a “sound investment option” because of strong state oversight. As many as 15 towns may lose 10 percent or more of their tax base, and another 10 could see a 5 percent to 10 percent decline, the state’s Local Government Services division said in a finance notice. Even so, it said those losses are mostly temporary as New Jersey rebuilds from the Oct. 29 storm that left parts of the coast uninhabitable and without power. The division encouraged all local government officials seeking to sell debt to share the notice “to obtain the best possible interest rates.”

Link to Full Article: http://www.nj.com/business/index.ssf/2013/01/nj_urges_investors_to_buy.html

 

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