Monroe County Hospital to convert series 2002B auction-rate bonds

By Sheri Kasprzak

New York, March 5 - Monroe County Hospital Authority in Pennsylvania plans to convert its series 2002B auction-rate bonds to a fixed-rate mode, a notice of conversion said Wednesday.

The initial conversion date is set for March 20, the notice said.

"All outstanding bonds are subject to mandatory tender for purchase on the interest mode adjustment date [March 20] and on such interest mode adjustment date, the bonds shall be deemed purchased and thereafter the owner shall have no further rights under the bond indenture except to receive the purchase price," said the notice.

The bonds were sold in April 2002 for the Pocono Medical Center.

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