* The spread between taxable and tax-exempt bond interest rates has narrowed;
* Some companies may have decided to sell taxable bonds to avoid restrictions imposed by a tax-exempt issue; and
"It could be the economy. Maybe some people don't want to take on any new debt, even if it is tax-exempt."
Just a few years ago, tax-exempt bonds helped finance numerous big projects, including the $3 billion Longview Power plant in Monongalia County and pollution control equipment at power plants owned by American Electric Power and its subsidiary, Appalachian Power.
In fact several years ago requests for bonds routinely exceeded allocations and the parties agreed on how to divide the amount available.
As required by law, the state development authority transfers unused bond allocations to the West Virginia Housing Development Fund, which has up to three years to use it or lose it.
Reach George Hohmann at busin...@dailymail.com or 304-348-4836.