County bonds, the ongoing saga
We hear that Guilford County's new Vice Chairman Steve Arnold is calling into question whether the bonds should go to market as scheduled in January.
As it stands, that was never a firm rule. At the last minute the county can pull out.
And the line all along is that it's been too soon to tell whether the bond market will be ready for the municipal bond sale when the time comes, but overall, county funds are OK for now.
Though the county's AAA bond rating would help the sale, according to analysts. And the bonds could be moved, as we previously reported in a story about stalled school projects:
If the bonds don't sell in January, Fox said it could be months before they attempt it again.However, at least one municipal bond expert is optimistic about the county's ability to sell in January - partly because of its AAA credit rating.
"High grade securities like the county should have reasonably good market access," said Matt Fabian, managing director at Municipal Market Advisors. "The high grade securities market is recovering, it actually has pretty much won back all of the losses it had in October."
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