Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers T > Headlines for Texas State Affordable Housing Corp. > News item |
Texas State Affordable Housing defaults on four housing revenue bonds
By Devika Patel
Knoxville, Tenn., March 11 - Texas State Affordable Housing Corp.'s revenue bonds trustee was not able to make the principal and interest payments due March 1 on the series 2002A, series 2002B, series 2002C and series 2002D Texas State Affordable Housing Corp. multifamily housing revenue bonds, according to a notice from trustee Wells Fargo Bank, NA.
The trustee (612 667-3777) said it could not make the payments because of insufficient funds in the bond fund and reserve funds set up for each series of bonds. There have been prior non-payments on the bonds, which are now in default.
There are $53.68 million of the series 2002A bonds remaining outstanding, $6.63 million of the series 2002B bonds outstanding, $2.95 million of the series 2002C bonds remaining outstanding and $930,000 of the series 2002D bonds remaining.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.