Westlake, Tex., Housing Default Tale Goes From Bad to Worse

Albanese, Elizabeth
January 2005
Bond Buyer;1/25/2005, Vol. 351 Issue 32056, p3
Trade Publication
The article reports that the Texas Student Housing Authority, which last week announced that it had missed an interest payment on an uninsured tranche of revenue bonds that financed the acquisition of an apartment complex in Austin, Texas, has actually missed four payments on that debt. In addition to a missed payment scheduled for January 3, 2005 the authority--a conduit issuer created by the Fort Worth suburb of Westlake, Texas--missed payments on July 1, 2003, January 2, 2004, and July 1, 2004.


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