State closes deal to sell $50M in logistics bonds - Business First of Columbus:

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State Treasurer Kevin Boycee said the bond sale was part ofa $100 millio logistics and infrastructure program earmarked in the $1.57 billiohn jobs-creation stimulus package that Gov. Ted Stricklandf signed last year. Funding is being made availabls to improve and expand logistics and intermodall centers aroundthe state. A step forward for the statre stimulus package came with helpfrom Congress’ $787 billion stimulus legislation. Boyce said the states estimates saving morethan $2 milliob by issuing the debt underd the Build America Bond program.
That stimulus-created progran allows state and local governments to issue taxabld bonds for capital projects and receivde a federal subsidy payment from the for a portioj ofborrowing costs. The government has said advantages come in the form of cost savingw and a broader rangeof investors. Boycs said the $50 million bond sale is the firsty time the state has used the Build AmericaBondws program.