As Predicted, Philadelphia Agency Defaults on $46M of Insured Tax-Lien Debt

D'Ambrosio, Jill
July 2004
Bond Buyer;7/27/2004, Vol. 349 Issue 31934, p4
Trade Publication
Reports that a Philadelphia authority has defaulted on multimillion insured tax-lien bonds it sold in 1997 as a way to raise cash. Opposition of the city Controller, Jonathan Saidel on the tax-lien deal; Saidel's discussion of the probable impact of the default on the cost of bond insurance for future Philadelphia issues; Amount sold by Philadelphia in delinquent real estate tax liens to the Philadelphia Authority for Industrial Development.


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