Unlike the fund, the new agency will be able to issue fully guaranteed bonds for trading on international markets to raise capital.
State and local jurisdictions sell bonds to raise money for public works and other long-term projects.
Several experts said it was difficult to compare the extent to which different universities use bonds to raise money.
Under part of the plan, the Thruway Authority would temporarily "lease" some highways from the state as a way to issue bonds to raise money.
Ratings and Interest Credit ratings are mainly important when companies sell bonds to raise money.
The card companies issue bonds to raise money, which they lend to customers.
Municipalities sell bonds to raise money for expensive capital projects, such as schools and water treatment plants.
Both institutions issued bonds to raise funds.
At the time, the Bush administration argued that the 30-year bond raised the cost of borrowing too much to be cost-effective.
Investing the cash that was saved in a 7 percent tax-free municipal bond will raise an additional $17,300 over 10 years.