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bond pool

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bond pool
A municipal bond offering in which a sponsor sells an issue of bonds with proceeds used by a number of cities or other tax-exempt organizations. The pool permits small cities with low borrowing requirements to reduce the underwriting and interest costs inherent in a small issue. Because of the varying credit risks associated with cities in a single bond pool, nearly all bond pools are insured as to payment of interest or principal. Also called pool financing.


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To date, there is well over $10 million in Grow Bond pool.
The bond allocation is in effect until January 16, 2008, at which time bonds that have not been delivered will be returned to the Gulf Opportunity Zone Bond Pool.
Effective October 1, 2006, the Total Bond Pool will be comprised solely of Vanguard(R) Total Bond Market Index Fund.
 
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