Alive Hospice Proj Revs Ser 1999 Rated AA/F1+ by Fitch IBCA.NEW YORK--(BUSINESS WIRE)--July 22, 1999-- The Health and Educational Facilities Board of the Metropolitan Government of Nashville and Davidson County Davidson County is the name of two counties in the United States:
IBCA Institute of Burial and Cremation Administration IBCA Integrated Business Communications Alliance IBCA International Barbeque Cookers Association IBCA Department of Interior Board of Contract Appeals . The rating for the bonds is based on the 100% support of Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , N.A. in the form of a transferable, irrevocable direct-pay letter of credit. The bank is obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to make payments of principal, interest and purchase price upon maturity, acceleration, redemption and tender of the bonds. The rating will expire upon the stated expiration date Expiration Date The day on which an options or futures contract is no longer valid and, therefore, ceases to exist. Notes: The expiration date for all listed stock options in the U.S. of the letter of credit, July 27, 2004, upon any prior termination of the LOC LOC - lines of code or upon defeasance of the bonds. The LOC provides full coverage of principal and interest payments due on the bonds, as well as purchase price. Interest is computed at a maximum rate of 12% based on a year of 365 days for a period of 35 days. The Placement Agent and Remarketing Agent for the bonds and notes is Bank of America, N.A. The sale is scheduled for July 27, 1999. The bonds will bear interest at a weekly interest rate, to be determined by the remarketing agent. Interest payments are the first day of each month, commencing Aug. 1, 1999 and bondholders have the option to tender their bonds, provided the remarketing agent is given seven days' notice of the purchase. The bonds are subject to mandatory tender upon substitution of the LOC, if the substitution results in a reduction or withdrawal of the then current rating assigned to the bonds. Optional and mandatory redemption provisions also apply to the bonds. Proceeds of the bonds will be used by the borrower, Alive Hospice, Inc., a Tennessee not-for-profit corporation A not-for-profit corporation is a corporation created by statute, government or judicial authority that is not intended to provide a profit to the owners or members. A corporation that is organized to provide profits to its owners or members is a for-profit corporation. , to: -- Finance the acquisition, construction and equipping of an in-patient hospice facility, -- Renovate the offices of the company, -- Retire existing debt of the company, and -- Provide updated computer equipment for the hospice and the office facilities, which are both located in Davidson County. |
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