Because of this fact, the bond can be sold at a price far below its face value.

These bonds are sold way below face value because no interest is paid.

But data are available on the amount of new bonds sold between 1986 and 1989.

The bonds will return only around 7% a year, but $21m-worth had been sold by January 23rd.

The bonds for the project, however, have already been sold and will remain available to the school district.

And market participants say they will probably continue to sell bonds throughout 1990.

After this week, the 30-year bond will be sold only twice a year, instead of four times.

Companies that could not have sold bonds late last year now get money easily.

Rather than sell bonds later in the year, they could enter the market now.

The city could not sell its bonds in the public market, so it had no capital budget.