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Fitch Rates Pampa Independent School District TX. $8.1 Million Unlimited Tax Bonds Rates 'AAA' -- Fitch Financial Wire --

NEW YORK, Nov. 21 /PRNewswire/ -- Pampa Independent School District (TX.)'s $8,100,000 school building unlimited tax bonds, series 1997, are rated 'AAA' by Fitch Investors Service. The bonds are scheduled for competitive bid Dec. 10, 1996. The district has made application to and received approval from the Texas Education Agency for the bonds to be guaranteed by the Texas Permanent School Fund, which Fitch rates 'AAA'.

Dated Dec. 1, 1996, the bonds mature serially Aug. 15, 1999-2022. The district reserves the right to redeem bonds maturing on or after Aug. 15, 2008, beginning Aug. 15, 2007, at par plus accrued interest to the redemption date.

Bond proceeds will be used to pay for grading, drainage, construction, renovation and remodeling at four elementary schools, asbestos removal, parking lot repairs and construction, architectural and engineering fees and costs of issuance. The bonds are direct obligations of the district, payable from an unlimited ad valorem tax levied against all of the district's taxable property.

SOURCE Fitch Financial Services
 -0- 11/21/96

/CONTACT: Bryan D. Huskey, 212-908-0674, or Steven W. Eaddy, 212-908-0684, both of Fitch/

CO: Pampa Independent School District ST: Texas IN: SU: RTG

PS -- NYTH141 -- 5632 11/21/96 17:33 EST
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Publication:PR Newswire
Date:Nov 21, 1996
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