Why it’s more expensive for Black towns to borrow money [grist.org]
By Jake Bittle and Siri Chilukuri, Photo Illustration: Grist/Getty Images, Grist, August 18, 2023 When cities need to raise money for roads and water lines, they have a few options. They can raise taxes, for instance, or charge fees for city services. If that isn’t enough, though, they can also issue bonds, borrowing on a $4 trillion credit market to pay for new construction projects they can’t afford otherwise. These municipal bonds function like loans that banks and investors make to local...