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A variable rate debt obligation (VRDO) is a tax-exempt short-term investment instrument based on long-term municipal bonds. The total value of outstanding VRDOs was estimated at $500 billion in November 2008.
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| rdfs:comment |
A variable rate debt obligation (VRDO) is a tax-exempt short-term investment instrument based on long-term municipal bonds. The total value of outstanding VRDOs was estimated at $500 billion in November 2008.
|
| rdfs:label |
Variable rate debt obligation
|
