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Board of Governors of Wayne State University general revenue SAVRS are rated as follows: The bonds will initially bear interest at a SAVRS auction rate but may be converted to bonds that bear interest at different rates, including weekly rates, flexible rates or fixed rates, at the option of the city, subject to certain restrictions. The second tranche of the series 2000A bonds will be issued in the weekly rate mode, but may be converted to a daily, commercial paper, term, fixed or SAVRS rate mode. |
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