Journal Article

Public subsidies for private purposes


Abstract: A discussion of the use of municipal debt issues to fund publicly supported stadiums, focusing on the role of federal tax exemption as a hidden subsidy in reducing local funding costs and on the rationale for seeking public subsidies of private, local facilities.

Keywords: Municipal finance; Securities, Tax-exempt;

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Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Commentary

Publication Date: 1991

Issue: Apr

Order Number: 2