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MOUNTAIN VILLAGE METROPOLITAN DISTRICT (CO) GO BONDS RATED 'BBB' BY FITCH -- FITCH FINANCIAL WIRE --

 MOUNTAIN VILLAGE METROPOLITAN DISTRICT (CO) GO BONDS RATED
 'BBB' BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, May 6 /PRNewswire/ -- Mountain Village Metropolitan District, CO, general obligation bonds are rated 'BBB' by Fitch. The district will offer $21.6 million General Obligation Refunding Bonds Series 1992 through negotiation the week of May 11 with Kirkpatrick Pettis and Piper Jaffray Inc.
 Mountain Village Metropolitan District has experienced rapid, high quality growth in recent years. The district is located near the Town of Telluride and a large portion of the ski area is within the district's boundaries. Recent development, including a Doral Resort and plans for a gondola system connecting the district, the town, and parts of the mountains, have greatly expanded the district's capacity for both increased visitors and construction of both commercial and residential areas. Development in the district has progressed to the point where debt levels should now begin to decline since borrowing and infrastructure needs are essentially fulfilled. A six month reserve fund provides additional security to these general obligation bonds.
 Financial operations of the district have benefited from the receipt of connection fees as well as significant interest earnings on balances. An operating millage will be proposed for the electorate in November that will provide monies to continue to balance operations in case connections should decline. The credit trend is stable.
 -0- 5/6/92
 /CONTACT: Colleen Woodell of Fitch, 212-908-0507/ CO: Mountain Village Metropolitan District ST: Colorado IN: SU: RTG


LR -- NY083 -- 7249 05/06/92 16:10 EDT
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Publication:PR Newswire
Date:May 6, 1992
Words:252
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