December 7, 1974 Bond Sale * Saves N.CL '= Taxpayers * ? Moneys = A small news item about the p v 1 i I 1 4 A A r c q /\t .tMARih I ar/vliyia Qit|> dowed by talk of the state of the nation's economy. But, that sale produced substantial savings for the taxpayers of North Carolina, just as many previous sales had doner The $76 million offering, for public school facilities, clean water and a zoological part, iifoc cr\l/l a ?.?.? *? jwiu iu a uu|j ui oanxs and "other investors. North Carolina's bonds have the highest possible .j rating -- AAA -- by Moody's ^ . and * Standard and Poor's * because of the excellent reputation the state has in the national markets. Only 14 other states have an. AAA rating. "Even among those states which have the AAA rating, North Carolina usually has one of the best records of selling the bonds at a comparatively low rate of interest," said R. Gerald Coghill. "The Wall Street Journal once auoted a bond dealer as saying North Carolina's bonds are analogous to 'the very rarest of vintage wines." At almost the same time North Carolina was selling its bonds last-week, the State of California, which also has air AAA rating, had a $100 million offering. The North Carolina bonds sold at an average interest cost of 5.43 * percent while the California bonds went for 5.51 percent. "That may not sound like . much difference, but when tr/Mi *?/1aa1!? a jvu ai t ucauii^ in minions oi dollars it is substantial," Coghill said. The State of North Carolina bonds were offered 20 basis points lower in yield than the California bonds. Converted into dollars, this results in a savings to the North Carolina taxpayers^ well over a million dollars. Coghill said that much of the credit for this goes to Edwin M. Gill, North ai Carolina s state treasurer tor more than 20 years. Through Gill's efforts the rating was raised from AA to AAA in 1960. Since that time, Coghill said, many millions of dollars have been saved because the state has been able to sell its bonds at lower interest rates. On the most recent sale, bids for the bonds made by the three syndicates ranged from 5.43 to 5.53 percent. A * co-manager of the winning syndicate, then reoffered the bonds to members of the syndicate at various rates and . maturity . dates. Only SI.3 million remained unsold, after the two-hour reoffer oeriod. I Sk ^Lj i H f Mm rffl^Ma Warning: The Surgeon Gene That Cigarette Smoking fs Dan; I tSam^ far IUMO nm BETTER BUSH > r Bob was riding his bike without a chain guard. Suddenly his foot caught between the pedal and the chain and he fell, fracturing his skull. As Jimmy "was riding his bike downhill, the bike's front wheel suddenly became loose and twisted. He lost control and crashed to the ground, fracturing his knee. Accident stories like these cited by the Consumer . Product Safety Commission are sobering, especially if _Wjngton-Saleni Chronicle HkL-X'X-: : xhSR;". : k^M ^KvX^;i;!vX; Hk&'*'* ^By' H H ^ >u^' * *'*^^1 ^B^HhPI-w ^p\ ; ;#?: ? v/TC'^p^H tofiiSnb ***&? ral Has Determined lerous to Your Health. I KING; 18 consumers || four I [WW BUREAU I you're buying a bike for your child this holiday season. The Better Business Bureau says that accidents such as the above can be prevented by buying a safe bike and making sure it stays in a safe condition. When you buy children's clothes, perhaps you buy them a little large so your children can grow into them. There's nothing wrong with that. But a bicycle is different; it should fit the size your child is today. If it's too big, your child won't be able to handle it safely. To see if. a bike is not too large, have your child sit on the seat; .? ? - * / % ^PPs^lligR^ Vs " s s + " '" -, ' ?|||| S j I^ ^ poty^cS&ySSjpQpgOwORBp^>.\,X,^y,>^I,>XvX*?>yl'!?>l;Iv . kvX^BKmmSK'''':<'^*!v,'?^^^l - _; " ' -'?>:_ Mi Isiifl &$ >Viv^. <:; >' ::W:v:*x :-;-x-:;x::::::::Wi;::KS&: