shamefully, usually to either avoid tax (NHS Trusts are big players in the industry) or to subvert restrictions on their ability to make large capital purchases by substituting for a capital outlay (which might be subject to some restriction, or possibly the debt raised to buy it might be) for a stream of lease payments (which can usually be dressed up as current expenditure).
-----Original Message----- From: Michael Perelman [mailto:[EMAIL PROTECTED]] Sent: 04 September 2002 15:27 To: [EMAIL PROTECTED] Subject: [PEN-L:30025] Re: RE: Re: sale and lease back of land and buildings Why do public agencies engage in sale and leasebacks? -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED] ___________________________________________________ Email Disclaimer This communication may contain confidential or privileged information and is for the attention of the named recipient only. It should not be passed on to any other person. Information relating to any company or security, is for information purposes only and should not be interpreted as a solicitation or offer to buy or sell any security. The information on which this communication is based has been obtained from sources we believe to be reliable, but we do not guarantee its accuracy or completeness. All expressions of opinion are subject to change without notice. All e-mail messages, and associated attachments, are subject to interception and monitoring for lawful business purposes. (c) 2002 Cazenove Service Company or affiliates. Cazenove & Co. Ltd and Cazenove Fund Management Limited provide independent advice and are regulated by the Financial Services Authority and members of the London Stock Exchange. Cazenove Fund Management Jersey is a branch of Cazenove Fund Management Limited and is regulated by the Jersey Financial Services Commission. Cazenove Investment Fund Management Limited, regulated by the Financial Services Authority and a member of IMA, promotes only its own products and services. ___________________________________________________