Pennsylvania Higher Ed System Sells $88 Million of Revenue Bonds

D'Ambrosio, Gillian
May 2003
Bond Buyer;5/15/2003, Vol. 344 Issue 31636, p34
Trade Publication
Pennsylvania's State System of Higher Education sold 88.1 million dollar competitive revenue bonds that contains 49 million dollar in refunding. The Series 2003X revenue bonds, to be sold through the Pennsylvania Higher Educational Facilities Authority, will refund about 10 million dollar of Series 1992G and 39 million dollar of Series 1993I bonds, but also include about 38 million dollar in new money, according to James Dillon, treasurer of the State System of Higher Education. The improvement in the financial health of the system is influenced by good cost control and debt service coverage. Revenues earned from the issuance of bonds are earmarked for renovations and maintenance of facilities at eight of the system's universities.


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