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Government bond |
Also found in: Wikipedia | 0.04 sec. |
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Government bond |
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? Mentioned in | ? References in periodicals archive | |
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The new Yankee stadium will be owned by the city's Industrial Development Authority, which is exempt from real estate taxes, but as part of the Yankees' deal, the payments will not be used to recoup the lost tax revenue, but rather to service the roughly $860 million of tax-free government bonds that will finance the bulk of the project. 6 percent annually--about 50 percent more than would be earned by government bonds alone. The reason it is a flim-flam is that throughout its history, to the extent that it invested in anything, it invested in United States government bonds. |
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