States, cities to issue $357B in bonds this year

摘要

At a certain point, infrastructure isn't optional. That's what the head of municipal bond research for Bank of America Merrill Lynch told Bloomberg Business about Atlanta. It's paid down its debt and this month, for the first time in 14 years, is asking voters to approve $250 million in new debt for desperately needed improvements. "We have maintenance that's been put off for years and years and years," said Richard Mendoza, commissioner of the public works department. "The $250 million is what we are able to afford without raising property taxes."