Treasurer Timothy P. Cahill’s staff said the state hasn’t refunded the bonds because it would have to do so at a much higher, fixed interest rate, which would be costly.
(Pat Greenhouse/Globe Staff/File 2009)
Investors stuck in Big Dig bonds
Treasurer letting auction-rate notes remain in limbo
Treasurer Timothy P. Cahill’s staff said the state hasn’t refunded the bonds because it would have to do so at a much higher, fixed interest rate, which would be costly.
(Pat Greenhouse/Globe Staff/File 2009)
Treasurer Timothy P. Cahill has saved taxpayers $20 million in interest costs by allowing a state bond issue to remain in a market limbo, but the decision has come at the expense of some investors, who are furious they can’t get their money back. (Full article: 1046 words)
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