Check with the Maryland Historical Trust. It has, for many years, funded archaeology through a non-capital grant program. I do not know if they use bond money, but I'm quite sure the subject came up. Start with their website (http://www.marylandhistoricaltrust.net/) or contact me off list for an e-mail address of a representative. -- Gibb Archaeological Consulting James G. Gibb, Ph.D. 2554 Carrollton Road Annapolis, Maryland 21403 (443) 482-9593 www.gibbarchaeology.org -------------- Original message -------------- From: "Hank D. Lutton" <[log in to unmask]> > Does anyone know of a city or county that has sold bonds in order to > fund public archaeology or research on existing collections? Last week, > Bloomberg.com carried an article by Joe Mysak that describes how the > City of Springfield, Illinois sold $23 million in municipal bonds to > finance the purchase of a major collection of Abraham Lincoln artifacts > for the Lincoln Presidential Library. For those interested, I've > included the article below. I am curious if anyone has attempted > anything similiar for archaeological excavations or collections. > > Thanks, > Hank > > > Springfield Sells Bonds for Mary Lincoln's Bloomers > > Commentary by Joe Mysak > > Feb. 15 (Bloomberg) -- Municipalities sell bonds to build roads and > sewers, buy new ambulances and police cruisers, repair and maintain > bridges. Sometimes they use them to buy stuff like Abraham Lincoln's > hat and gloves, and Mary Lincoln's bloomers. > > The city of Springfield, Illinois, sold $23 million in community > improvement revenue bonds back in September for the Abraham Lincoln > Presidential Library Foundation Project. I didn't spot these bonds when > they were first sold, but this seems an appropriate time, between > Lincoln's birthday on Feb. 12 and the Presidents Day holiday, to catch > up. > > The Springfield bonds are just another example of why the municipal > market is a wonder of the world. > > Springfield was Lincoln's home before he was elected the 16th president > in 1860, and is the site of the Lincoln presidential library and museum. > > The ``Project'' is spelled out in a lengthy description on Page 3 of > the offering documents to the bonds: ``The proceeds of the Bonds will > be used to refinance the costs of a community improvement project > consisting of acquiring a collection of approximately 1,500 items of > personal property consisting in part of furniture, manuscripts, > campaign ribbons, medal tokens, campaign posters, campaign tickets and > ballots, and campaign torches, artifacts, prints, photographs, > paintings, sculpture, books, pamphlets, broadsides, sheet music, > newspapers, films, recordings, postal covers, stationery, coins, > currency and stamps pertaining primarily to the life of Abraham > Lincoln.'' > > `Magic of Stuff' > > The bonds are being used to pay off a $23 million loan used last summer > to acquire ``the Project,'' which is the collection of Louise Taper of > Beverly Hills, California. > > Selling bonds to add to a museum's collection seems to be unusual; most > museums sell bonds for capital improvements. Yet, this being the > municipal market, I can't say the Lincoln offering is a first. There's > always some odd little deal out there that might have been first in > terms of building a collection. > > Maybe more museums will sell bonds to buy stuff in the future, as items > come up for sale that they simply must have. Certainly, this was the > case with the Taper collection of Lincolniana, long reputed to be one > of the best in private hands. > > It featured prominently in my old friend Andrew Ferguson's book ``Land > of Lincoln: Adventures in Abe's America,'' published last year by > Atlantic Monthly Press. > > Ferguson wrote about Taper, a self-taught buff whose husband's fortune > bankrolled her ``Lincoln fever,'' as she put it, in a chapter titled > ``The Magic of Stuff.'' > > Stovepipe Hat > > ``I always knew just what I wanted,'' Taper told Ferguson. ``I wanted > the personal Lincoln, I wanted the unusual Lincoln, I wanted the family > Lincoln. And I wanted every phase of his life.'' > > The Taper collection includes Lincoln's beaver-skin stovepipe hat -- > one of three known -- a billfold, the gloves he wore on the night of > his assassination and his wife's undergarments. There are lots of other > items, some of which Taper donated as gifts to the museum. > > At one point in the chapter, Taper tells Ferguson, ``And that's the > chamber pot he used in the White House.'' > > The author observes: ``You own Abraham Lincoln's chamber pot.'' Taper > has decided to keep that item. > > Well, there's not much more to say, is there? How could the museum not > buy this treasure-trove? > > Presidential Library > > The bonds were sold in two parts, with $13 million carrying a 4.25 > percent coupon due in 2017, callable at par in 2010, and $10 million, > also due in 2017, at an interest rate set weekly, most recently at 2.20 > percent. The bonds were underwritten by Harris Bank, which also > provided a letter of credit. > > Normally, at this point, I would pull apart the bond documents and > financial statements, detail museum attendance and fund raising, and > pretty much try to discredit the whole thing. Tourist attractions don't > have a good track record in the municipal market. > > Not this time. > > For one thing, we're talking about a presidential library and museum. > For another, it's not just any leader, but Lincoln, who is generally > considered by most historians to be in the first rank of U.S. > presidents. > > I'm wagering that Lincoln, always a canny politician, can still bring > home the bacon. And so does Rick Beard, executive director of the > library and museum, who told the New York Times last week that he was > looking for some special donors to help retire the bonds. > > (Joe Mysak is a Bloomberg News columnist. The opinions expressed are his own.) > > To contact the writer of this column: Joe Mysak in New York at > [log in to unmask] > > Last Updated: February 15, 2008 00:17 EST