TITLE

Texas County Offers Bailout to Detention Center Debt Holders

AUTHOR(S)
Albanese, Elizabeth
PUB. DATE
November 2004
SOURCE
Bond Buyer;11/30/2004, Vol. 350 Issue 32019, p52
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on government actions about defaulted lease-revenue bonds in Texas County, Oklahoma. Investors who hold $5.14 million of defaulted lease-revenue bonds issued to finance a juvenile detention center in Kerr County, Texas, are considering a $1.75 million offer from the county to buy the facility. In September, Standard & Poor's Corp. downgraded its rating on the juvenile detention center in the Texas Panhandle by a whopping 13 notches after county officials decided not to appropriate funds for debt service or operating costs for the facility.
ACCESSION #
15256485

 

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