Finance Minister Paula Cox is spearheading a crusade to clean up Bermuda's tarnished ‘tax dodging' reputation in the US.

The Island's first woman Finance Minister said she plans to visit Washington in April and once there spread the word among US politicians that Bermuda is not a dirty word but instead synonymous with good business practices.

Ms Cox said that she would like to sit down with US Presidential hopeful Senator John Kerry, appeal to his intelligence and set him straight on the facts.

“They aren't really interested in what is happening in Bermuda, but it resonates with their local constituents in terms of bringing dollars back and bringing home the bacon and being patriotic,” she said. “But I think he (Kerry) strikes me as an intelligent man and I think if you're an intelligent person you listen to the facts before you make a decision.”

Senator Kerry has been busy Bermuda-bashing as part of his ongoing political campaign and has promised, if elected, to stop business coming to the Island.

Ms Cox said her first trip to Washington will be following a popular insurance conference in San Diego (RIMS), and she says this will be followed by many other trips.

Government is also expected to beef up its lobbying efforts in Washington and is looking at hiring a second lobbyist to add impact to its case, added Ms Cox.

During yesterday's interview, Financial Secretary Donald Scott also revealed that the Government was in the process of looking at issuing savings bonds to cash in on money expected to circulate following last weeks' Bank of Bermuda sale to HSBC.

Mr. Scott revealed that Government was deep in plans to issue bonds which would have a fixed interest rate and would probably be for a fixed period of ten years.

Bermudians are expected to get a windfall of $900 million out of the $1.3 billion total for the sale of the bank - and investors will have to look for a new stable home for their money.

“There may be an opportunity for the Government of Bermuda to mop up some of that liquidity (from the sale),” said Mr. Scott.

“There is a senior debt issue of $75 million worth that falls due in June of this year, and we are in the midst of planning.”

Ms Cox also said that foreign banks had expressed interest in coming to Bermuda - but had not as yet directly come to Government which has promised to open up the banking sector.