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Taking Stock

In spite of the limited shelf life of New Year?s resolutions, using the beginning of the calendar year to at least ?take stock? is simply too ingrained a ritual for most to pass up. It is therefore inevitable that a discussion of infrastructure finance themes in January would include some form of reflection on the past year. Perhaps one of the better barometers to examine as part of this exercise would be the primary source of a utility?s CIP funding ? the vast and dynamic municipal debt market.