Expected rents at a rising office tower at the World Trade Center site will back debt service on $1.31 billion of tax-exempt Liberty revenue bonds expected to price this week, but their real security comes from local ­governments.

The Port Authority of New York and New Jersey is the guarantor on the bonds being issued by the New York Liberty Development Corp. on behalf of an affiliate of developer Silverstein Properties Inc. to finance the construction of 4 World Trade Center. New York City’s credit is also potentially providing some security to the bonds. 

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