Maine Housing bonds go on sale

Posted Oct. 10, 2008, at 2:27 p.m.

PORTLAND, Maine — The Maine State Housing Authority is selling $20 million to $30 million worth of tax-exempt revenue bonds to help first-time home buyers.

Maine Housing Director Dale McCormick said the bonds, which went on sale Friday, offer a way to make a secure investment and fund low-income housing at the same time. The bonds carry an interest rate of 5 percent, and they’re exempt from state and federal income taxes, as well as the alternative minimum tax.

The housing authority normally sells to a network of Maine brokers and institutions. This time, anyone can buy them through a bank that does business with Maine Housing.