Distinguish among refinancing debt and retiring the debt
Distinguish among refinancing the debt and retiring the debt.
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Refinancing the public debt merely refers rolling over outstanding debt—selling “new” bonds to retire maturing bonds. Retiring the debt refer purchasing bonds back through those who hold them or at maturity paying the bonds off.
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Administration: It refers to the Governor's Office and those individuals, subdivisions, and offices reporting to it (example, the Department of Finance).
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