TITLE

Tennessee Housing Agency Selling PAC Bonds

AUTHOR(S)
DeSue, Tedra
PUB. DATE
June 2003
SOURCE
Bond Buyer;6/16/2003, Vol. 344 Issue 31657, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The Tennessee Housing Development Agency is getting ready to sell about $60 million of housing revenue bonds beginning June 26, 2003 in a deal structured with premium planned amortization-class bonds. The deal consists of $49.1 million of bonds that will be subject to the alternative minimum tax (AMT) and $10.8 million of non-AMT bonds. The non-AMT bonds have $2.6 million of serial bonds with maturities from 2011 through 2017, and one term bond totaling $8.2 million that matures July 1, 2023. The proceeds from this issue will be used by the housing agency to purchase a portfolio of qualifying single-family mortgage loans, which will be used by various mortgage lenders to make loans to low-and moderate-income families in Tennessee.
ACCESSION #
10104698

 

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