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ORLANDO PARKING REVENUE BONDS RATED 'A' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Jan. 7 /PRNewswire/ -- Orlando, Florida's $23,185,000 parking facilities revenue bonds, 1994 Series A and $5,875,000 parking facilities taxable refunding revenue bonds 1994 Series B are rated `A' by Fitch. Dated Jan. 1, 1994, the bonds will be offered through negotiation through a syndicate led by Smith Mitchell Investment Group, Inc.
 The system's historical financial operations are good and rates are competitive within the parking district. The parking district is located in the downtown area, which includes city and county government offices as well the Church Street Station and Centroplex areas. The city's parking ordinance, consistent with the state-mandated growth management plan, prohibits the development of additionally privately owned principal use parking facilities and requires that one of each three required accessory parking spaces for new land uses in the downtown be in a city facility. Additional planned parking structures will be built immediately adjacent to key county government facilities. Projections show debt service coverage by net pledged revenue, inclusive of rate increases, will significantly exceed the required 1.35 times (x). The credit trend is stable.
 -0- 1/7/94
 /CONTACT: Ruth M. Levine of Fitch, 212-908-0605/


CO: ST: Florida IN: SU: RTG

CK -- NY046 -- 0212 01/07/94 14:51 EST
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Publication:PR Newswire
Date:Jan 7, 1994
Words:208
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