Rhode Island Agency Pricing $13.6 Million SRF Deal

D'Ambrosio, Gillian
May 2003
Bond Buyer;5/20/2003, Vol. 344 Issue 31639, p5
Trade Publication
The Rhode Island Clean Water Finance Agency will price 13.63 million dollars of water pollution control state revolving fund (SRF) revenue bonds in a negotiated sale to be held on May 21, 2003. The Series 2003A bonds will be structured as serials and terms with 20-year maturities at a fixed rate. As a state revolving fund, its bond issues are backed by loan repayments, a sizable reserve fund, and the interest accrued on these reserves. Participants in Rhode Island's SRF receive loans at subsidized interest rates but, in the case of a default, are required to repay these loans at full rates, an incentive to make timely payments.


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