Maine Bonds (Maine Municipal Bonds)

By: EconomyWatch Content   Date: 6 November 2009

About The Author

EconomyWatch Content

Follow The Money

EconomyWatch, Content Team

 

  • Dot Div
  •      

Maine bonds (Maine Municipal Bonds) are issued by state and local government entities to finance developmental projects from time to time. Some of these entities are cities, towns and counties. The principal aim of issuing Maine municipal bonds is to raise funds for major capital projects. By January 2009, there were more than 50,000 issuers of municipal bonds that had outstanding bonds over $2.6 trillion.

 

Maine Bonds (Maine Municipal Bonds)Bank

 

Established in 1972, by the Maine State Legislature, the Maine Municipal Bond Bank issues highly rated bonds. These bonds are tax-exempt and aim at providing low cost capital finances to the various governmental entities, such as cities, water and sewer districts, and school. The bank operates as an independent agency under the Governor.

 

The following are some popular Maine municipal bonds:

  • Maine Municipal Bond Bank Series B; Coupon/Interest Rate: 5.875% and Maturity Date: 2013-11-01
  • Lewiston Maine Public Improvement Series A; Coupon/Interest Rate: 3.500% and Maturity Date: 2020-04-15
  • Maine St General Purpose; Coupon/Interest Rate: 4.000% and Maturity Date: 2016-06-01
  • Bath Maine Series B; Coupon/Interest Rate: 5.125% and Maturity Date: 2017-10-15

 

Purchasing Maine Bonds (Maine Municipal Bonds):

 

If you are looking forward to investing in Maine General Obligation Bonds, keep in mind these simple things. The typically time of issuance of these bonds is late May or early June. Purchase orders are welcomed from individual investors before other investors. If you want to buy previously-issued bonds, you can do so in the secondary market the year round.

 

Investors are required to have an account with broker before purchasing GO bonds. This is because securities are sold only by licensed brokers. The minimum denomination for these bonds is $5,000; moreover, $1 million is the maximum order limit for individuals. An approval from the State, the senior managing underwriter or financial advisor needs to be obtained for orders larger than that.

 

It is crucial to have in-depth knowledge about the bonds. It is ideal to download Preliminary Official Statements that comprise information about the kind of projects they fund, maturity dates and more. Whether you want to invest in bonds in the early order duration or on the secondary market, it is advisable to contact a broker via phone, or internet to place your order.

 

 


  • Dot Div
  •      

Most Popular in Municipal

Related Links
blog comments powered by Disqus