BRADENTON, Fla. — Birmingham, Ala., plans to use recovery zone economic development bonds in a “creative” way, according to city officials.

Officials say they will use RZEDBs to help eliminate part of a projected $77 million budget deficit by funding qualified capital projects with the debt instead of cash. The approach is one way issuers can use debt financing, instead of pay-as-you-go funding, in lean years.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.