Competitive bidding will be dead by the year 2000.

We don't think so, but Arthur Spector, managing director and manager of the public finance department of Prudential Securities, does. "I believe that the advertised sale of municipal bonds as we know it has become a relic of the past and that, by the year 2000, the advertised sale will be dead. In fact, it will be dead and forgotten," he said recently at the Northeast State Treasurers' Conference in Rockport, Maine.

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