South Carolina District Latest to Try Installment-Purchase Bonds

DeSue, Tedra
November 2004
Bond Buyer;11/3/2004, Vol. 350 Issue 32003, p7
Trade Publication
The article reports on the selling of installment-purchase revenue bonds worth 68 million dollars through a nonprofit corporation by the Lancaster County School District in South Carolina. UBS Financial Services Inc. is the book-runner for the deal. By selling the bonds, the district avoids bumping up against a state imposed debt limit. It also keeps it from having to get voter approval, as is necessary when a bond issue exceeds the debt limit. The deal entails issuing the bonds through a nonprofit, which in Lancaster's case is the Lancaster Educational Assistance Program.


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