There were also cases of creative financing, or creative accounting depending on how one looks at it. Some major investment project were done through securitization and the use of special purpose vehicles (SPV) in a way that committed future liabilities did not show up as public debt. A good example is a project to develop a new government administrative center in the north of Bangkok. An SPV was set up with nominal paid-up capital, which is more than 50% privately owned so that it was not a state enterprise. The SPV issued bonds to raise money to construct and develop the administrative center. These bonds were backed by a long-term lease given to a government department with guaranteed rental. These rental payments (stretching to more than 30 years) clearly were committed liabilities of the government, yet they were not included in the public debt fingures.