Texas Health Resources, in the Clear With the IRS, Will Sell $300 Million

Albanese, Elizabeth
May 2003
Bond Buyer;5/7/2003, Vol. 344 Issue 31630, p6
Trade Publication
Texas Health Resources will come to market in the third week of May 2003 with a 300 million dollar sale of auction-rate bonds, just three months after the Internal Revenue Service (IRS) said that bonds issued in 1997 to finance the system's creation did not violate tax laws. Proceeds from the bond sale will finance projects throughout the system that are part of a capital program of 500 million dollars. The IRS in February 2003, completed a 21-month audit of 446.8 million dollars of Series 1997A revenue bonds issued on behalf of the hospital system by the Tarrant County Health Facilities Development Corp. and 187.6 million dollars of series 1997B revenue bonds issued by North Central Texas Health Facilities Development Corp.


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