Meanings of exempt bonds in English

Public subsidies for the new Queens project are expected to include tax- exempt bonds.

Jurisdictions that issue tax- exempt bonds range from states to cities, counties and school districts.

In addition, municipalities can issue tax- exempt bonds to fund the projects, keeping borrowing costs low.

The huge new deal supply has caused tax- exempt bonds to disconnect from their traditional benchmark, U.S. Treasuries.

The $1 billion of tax- exempt bonds are to price November 23.

That's because those households received much of their income from tax- exempt bonds or from overseas sources for which they receive foreign tax credits.

The project cleared another hurdle when it secured financing by issuing tax- exempt bonds secured by a letter of credit issued by a commercial bank.

Prices fell enough to lift yields as much as 10 basis points on long-term tax- exempt bonds, according to a preliminary read by Municipal Market Data.

The Securities and Exchange Commission's fund naming rules allow single-state municipal bond funds to own not only their state-issued debt, but also any tax- exempt bonds.

Tax- exempt bonds totaling $134.7 million were priced at par with a top yield of 4.50 percent in 2029.

The so-called credit spread for the 10-year, tax- exempt bonds over Municipal Market Data's triple-A scale, stood at 141 basis points last week.

Tax- exempt bonds totaling $795.5 million will be offered in term maturities in 2035, 2040, and 2044, according to the preliminary official statement.

The American Recovery and Reinvestment Act enacted in February 2009 exempted tax- exempt bonds issued in 2009 and 2010, but the provision expired on Dec. 31.

Most of the projects would not be possible without tax- exempt bonds and direct subsidies beginning with California's $3.4 billion Proposition 50 passed in 2002.

Kristen Cabanban, a spokeswoman for Chicago's finance department, said the city's Sales Tax Securitization Corporation will sell approximately $624.6 million of tax- exempt bonds on Thursday.