Municipal leasing is now thriving in Missouri, after being held down by controversy and a politician's attempts to stamp it out as a fraudulent and deceptive junk bond financing technique.

Lease offerings may well reach a new high in the state this year. The $314 million of lease revenue bonds and certificates of participation sold so far in 1991 by the state and its local jurisdictions already is the most such offerings in five years, and within shooting distance of the record $445 million lease deals set in 1986, according to Securities Data Co./Bond Buyer.

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