Capital Financing Program
Under its Capital Financing Program (CFP), the Authority makes loans to political subdivisions for the purpose of financing projects or improvements for which political subdivisions are legally authorized to borrow money through the issuance of municipal securities. Subject to credit requirements and certain program requirements, financing is available in any dollar amount.
The interest rates payable by a political subdivision are market rates which are set through a competitive bid process when the Authority issues and sells its bonds to fund a loan. The interest rates paid by the Authority on its bonds are the same rates a political subdivision will pay on its municipal securities sold to the Authority.
The CFP has been assigned a rating of "AA" by Standard & Poor's Ratings Group.
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