TITLE

Tennessee Local Development Authority Selling $49M of Bans

AUTHOR(S)
DeSue, Tedra
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/28/2003, Vol. 344 Issue 31644, p3
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The Tennessee Local Development Authority will sell about 48.5 million dollar of bond anticipation notes on May 28, 2003, marking just the second sale by a major Tennessee issuer this year. The authority makes loans to local governments so they can fund various capital plans, such as those for water and sewer projects, and even some airport authorities. As the projects are completed, bonds will be issued to take out outstanding short-term debt, explained Mary Margaret Collier, the director of the state Division of Bond Finance. The authority's debt is secured by the payments made by the local governments borrowing the money.
ACCESSION #
9944948

 

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