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FRANKLIN COUNTY, OHIO, LIMITED TAX BONDS 'AAA', BANS 'F-1+' BY FITCH -- FITCH FINANCIAL WIRE --

FRANKLIN COUNTY, OHIO, LIMITED TAX BONDS 'AAA', BANS 'F-1+' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Nov. 11 /PRNewswire/ -- Franklin County, Ohio's $86.45 million County Courthouse Bonds, Series 1991 (Limited Tax) are rated 'AAA' by Fitch. The county's $4.65 million Exhibition Hall Land Notes, 12-91 (Limited Tax Bond Anticipation Notes) due Dec. 14, 1992, are rated F-1+. The issues are selling competitively on Nov. 19. Bonds mature serially Dec. 1, 1992-2020 and are subject to optional redemption on or after Dec. 1, 2001, at 102 percent and declining thereafter. The credit trend is stable.
 A diversified and stable economic base provides the county with an exceptionally strong long-term capacity to pay its obligations. Overall debt burden remains moderate relative to tax base resources. This bond issue significantly increases debt service despite its slow amortization. The county intends to absorb it without raising property taxes while maintaining sound fund balance levels. The general fund balance is large and ultimate property tax raising flexibility under statutory limits is substantial.
 -0- 11/11/91
 /CONTACT: Richard J. Raphael of Fitch, 212-908-0506/ CO: ST: Ohio IN: SU: RTG KD -- NY081 -- 3203 11/11/91 17:38 EST
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Publication:PR Newswire
Date:Nov 11, 1991
Words:195
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