The deal, they said, would reduce their debt-service costs, return collateral and give their country an important benchmark in international capital markets.

"An estimated reduction of $169 billion in debt-service costs."

The concern is what's going to happen as we reach the end of the century and the debt-service costs are going to be increasing.

The rent would offset more than half the annual debt-service costs assumed by an owner with a $146,250, 30-year fixed-rate mortgage at 10 percent interest.

It is also almost unheard of for the federal government to be asked to pick up debt-service costs for local municipalities.

Such a level of inflation drove interest rates way up, straining debt-service costs in the national budget.

Last year, the hotel's cash flow totaled $17.6 million, while the total accrued debt-service cost was about $42 million.

The Bradley refunding is expected to save the State of Connecticut more than $30 million in debt-service costs.

That is only $3,500 per apartment a year in debt-service cost for the average 800-square-foot apartment if interest rates are at 10 percent.

Pension and debt-service costs were not included; like the rest of the city budget, they are calculated separately.