Texas, Florida and Colorado have special tax districts that help finance infrastructure and accommodate development. As have their economies in recent years, the districts' default experience has varies widely, says Municipal Market Advisors. Texas districts have fared the best, with 0% in default or drawing on emergency support, while 7% of Colorado districts and 19% of those in Florida are doing so. "State economic conditions, the framework that establishes the issuance of debt for these districts and the security pledge offered each play a role in explaining the variation in performance."
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