WASHINGTON - District of Columbia finance officials plan to issue up to $500 million of tax and revenue anticipation notes next month and hope investors will be receptive to them because they need the money to pay bills. But after being spooked by higher interest rates and an unfriendly muni market over the past weeks, Treasurer Lasana Mack said the district will postpone a $650 million income-tax bond deal scheduled for next month until the first quarter of next year.
"We're hopeful ... the market will be there for us" for the Trans, Mack said. "We do need the cash. This is our seasonal cash-flow borrowing that accommodates the difference in the timing of our receipts of some of our major revenue streams and our payment outflows."