A New York county's decision to opt for short-term debt instead of locking in long-term rates during a difficult market last December looks like it will pay off.

Nassau County will take bids for $150 million of tax-exempt general obligation bonds today and the proceeds will primarily be used to take out $125 million of bond anticipation notes that gave the county access to low short-term rates when long-term rates would have been higher than they hope to get today.

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