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Bond lawsuit driven by market, loss of proceeds
Stakes are high for both sides involved in a lawsuit about the municipal bonds paid off early after Memorial Hospital was leased last year to the University of Colorado Health. And neither side — the nine investors with about $47 million invested in the bonds nor the city of Colorado Springs — is backing down. [...]
Municipal bonds used to be the quintessential safe-but-dull investment. But ominous headlines about cities, recently including San Bernardino and Stockton in California filing for bankruptcy, have spurred some investors to rethink these investments. Municipal bonds historically pay a lower rate of interest than taxable bonds because these returns are free of federal taxes and exempt [...]
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