Build America Bonds have been called the success story of 2009 as issuers rush to take advantage of the 35% interest payment subsidy offered by the federal government. Yet few are flocking to an even better offer — recovery zone economic development bonds, which offer certain issuers a 45% subsidy.

The American Recovery and Reinvestment Act that Congress approved and President Obama signed in February authorized the issuance of up to $10 billion of these bonds, dubbed “Super-BABs” by program participants.

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