Though the financial crisis has managed to gut some practice areas-venture capital, anyone-it’s proving a boon to others.
One beneficiary is bond work created when cash-strapped banks decide not to renew letters of credit. That’s the situation that pushed the Atlanta City Council on Monday to adopt a Series 2009 bond ordinance for funds not to exceed $750 million. A portion of that money will be used to refinance commercial paper issued for the city’s water and sewer department.
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