LOS ANGELES — The municipal bond provisions of the federal stimulus package, particularly Build America Bonds, offer intriguing options for issuers, though some questions remain about implementation, panelists said at a Bond Buyer conference here yesterday.

There has been a quick takeoff for the direct-pay BAB program, in which the federal government provides a 35% subsidy for interest paid on taxable bonds issued for many programs eligible for tax-exempt financings.

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