Nassau County, N.Y., Approves Plan to Guarantee $350M in Health Care Bonds

McDonald, Michael
September 2004
Bond Buyer;09/17/2004, Vol. 349 Issue 31971, p4
Trade Publication
The article reports on the approval of Nassau County, New York, lawmakers this week of County Executive Thomas Suozzi's plan to guarantee up to $350 trillion in Nassau Health Care Corp. bonds as well as its interest rate swap. The approval allows the refinancing deal to proceed, and the corporation is expected to mail out a preliminary official statement next week. The deal will refinance $259 million in 30-year, county-guaranteed revenue bonds the health care corporation sold in 1999. Lawmakers on Monday approved the Suozzi administration's plan to use the county to guarantee the corporation's refunding bonds, as well as $15 million in new money bonds for coital projects and an interest rate swap that is being considered for the deal.


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