A bond that pays a ridiculously high rate, is not callable or payable early, and has no repayment for decades.
Frankly it might make a decent investment on a flyer just to have in the portfolio.
What you are betting is the school district will not file bankruptcy in those decades, or as they come due to avoid payment.
I don't know what the denominations are or the discounting on them, but it could have a place in a portfolio.
I looked for it and I couldn't find the bond on the market yet.
Last edited by Jonesee; 08-08-2012 at 20:19..