Texas Housing Issuers Liking the Terms of GO Zone Law

Albanese, Elizabeth
May 2006
Bond Buyer;5/26/2006, Vol. 356 Issue 32390, p3
Trade Publication
The article reports that Texas housing issuers are liking the terms of Gulf Opportunity (GO) Zone law for the benefits offered by it. The GO Zone law authorizes the issuance of up to $7.9 billion of private-activity bonds exempt from state caps to finance recovery efforts in areas affected by hurricanes in 2005 summer. Bonds issued for housing under the GO Zone law can be applied to residential loans filed by January 1, 2011. Till now, there have been three issues of GO Zone mortgage revenue bonds by Texas housing issuers including a $4.74 million deal by the Texas State Affordable Housing Corp. and a $105.4 million issue by the Texas Department of Housing and Community Affairs. All the deals have priced at 25 basis points below market rates.


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