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PEORIA (ARIZ.) $2.5 MILLION GENERAL OBLIGATION BONDS RATED 'A-' BY FITCH -- FITCH FINANCIAL WIRE --

PEORIA (ARIZ.) $2.5 MILLION GENERAL OBLIGATION BONDS RATED 'A-' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Sept. 3 /PRNewswire/ -- Peoria, Ariz.'s $2.5 million general obligation bonds (Projects of 1990), Series 1992B are rated "A-" by Fitch. Outstanding bonds are affirmed at "A-". The new bonds are being offered through competitive sale on September 15. Bonds mature July 1, 1995-2007 and are callable on or after July 1, 2001 at 101 percent declining thereafter.
 After doubling in size through annexation and more than quadrupling its population during the 1980s, Peoria's growth should continue, though possibly at slower rates. The city is largely residential, although commercial elements continue to develop. Financing this growth has resulted in debt levels which are generally high, although about average for rapidly growing Arizona cities. A new city administration is currently prioritizing its capital improvement plan and while a substantial level of authorized unissued debt exists for the overlapping school district, its issuance will be tied to actual tax base growth. Finances are sound with a large general fund balance.
 -0- 9/3/92
 /CONTACT: Richard Raphael, 212-908-0506, or Amy Doppelt,


212-908-0514, both of Fitch/ CO: Peoria, Ariz. ST: Arizona IN: SU: RTG

TS -- NY049 -- 6355 09/03/92 11:07 EDT
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Publication:PR Newswire
Date:Sep 3, 1992
Words:208
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