Description: For issuing affordable general obligation citizen bonds
, Winston-Salem is the recipient of the 1994 Technology Achievement Awards for Finance, sponsored by Public Technology, Inc.
They are designated Vermont Citizen Bonds
, will be in $1,000 denominations and will be sold only to instate retail purchasers.
29 /PRNewswire/ -- Investors responded enthusiastically Monday to the first issue of tax-exempt Citizen Bonds
offered by the City of Winston-Salem.
19 /PRNewswire/ -- The Citizen Bonds approved Monday night by the Winston-Salem Board of Alderman will pay interest rates ranging from 3.
For example, a taxpayer whose federal tax bracket is 31 percent will earn as much net income on a Citizen Bond at 4.
5 million Citizen Bonds
issue, approved by the Board of Aldermen Monday, will be offered for investments as small as $1,000, compared to $5,000 minimums that are usually required for municipal bond investments.
Among other things, the Energy Reform improves PEMEX's corporate governance, increases management's execution capacity in investment decisions, allows the company to provide incentives or make modifications to awarded contracts, and stipulates the issuance of citizen bonds
(debt securities which may be acquired by micro-investors and whose return is linked to PEMEX's performance).
The Vermont citizen bonds
now offered will be mini bonds, in $1,000 denominations.