In 2011, WSJ reported on the Public Finance Authority’s increasing but controversial toehold in the municipal-bond market. For those unfamiliar with the entity, it’s a Wisconsin government entity created by state lawmakers that issues so-called tax-exempt conduit bonds. The authority functions as kind of a muni-matchmaker for developers and investors, arranging tax-exempt financing for private borrowers for housing developers, charter schools and other not-for-profit corporations across the country. The Wisconsin State Journal has an interesting update on what the authority has been up to.
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