A Multiple-Objective Programming Technique for Structuring Tax-Exempt Serial Revenue Debt Issues

Amy v. Puelz and Sang M. Lee
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Amy v. Puelz: Department of Management Information Systems and Decision Sciences, Memphis State University, Memphis, Tennessee 38152
Sang M. Lee: Department of Management, University of Nebraska, Lincoln, Nebraska 68588

Management Science, 1992, vol. 38, issue 8, 1186-1200

Abstract: A multiple-objective decision model to structure tax-exempt serial revenue bonds is presented in this paper. Based on goals dealing with true interest cost, marketability, debt coverage, production, and level debt, we define a goal programming model to generate a maturity schedule and coupon rate assignment for a municipal bond issue. The model is designed to be a flexible interactive decision making tool to aid in the development of a minimal-risk, cost-effective issue.

Keywords: finance; goal programming; negotiated bidding; tax-exempt bonds (search for similar items in EconPapers)
Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:38:y:1992:i:8:p:1186-1200

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