WASHINGTON Three muni market groups have joined forces with the Council of Development Finance Agencies and sent Congress draft legislation that would create special Hurricane Sandy Recovery Bonds to help businesses and residents in the Mid-Atlantic region still reeling from storm-related destruction.
The National Association of Bond Lawyers, the Bond Dealers of America and the National Development Council in addition to the CDFA proposed that Congress allow federal bonding authority and other federal benefits to individuals, families and businesses in areas affected by Hurricane Sandy, or the "Reconstruction Zone."
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