Massachusetts Development to sell $50 million variable-rate bonds

By Cristal Cody

Prospect News, April 20 - The Massachusetts Development Finance Agency intends to sell $50 million in variable-rate demand revenue bonds for the Jewish Rehabilitation Centers for Living, according to a preliminary official statement.

The series 2011A and series 2011B bonds are due April 2, 2041. The bonds will bear a weekly interest rate.

Lancaster Pollard will manage the negotiated sale.

Proceeds will be used to construct a replacement skilled nursing facility in Peabody, Mass., and to refund bonds.

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