The bonds' call provision was 2012. If interest rates go down to 4.5% in the year 2012, Bellandro Bay is not likely to call in this bond issue.

Name: The bonds' call provision was 2012. If interest rates go down to 4.5% in the year 2012, Bellandro Bay is not likely to call in this bond issue.
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If interest rates go down to 4.5% in 2012, it becomes cheaper for Bellandro Bay to borrow money, making it more likely they will call in the bond issue and issue new bonds at a lower interest rate.

The Bonds' Call Provision Was 2012