- Language: English
- Published: November 2012
Summary: Oklahoma Cnty Fin Auth; Revenue - Housing, Section 8 Oct 98
- ID: 2040179
- October 1998
- Region: Oklahoma
- Standard & Poors
The rating on Oklahoma County Finance Authority's bonds, issued for Oakridge Village Apartments, reflects: - Strong debt service coverage, - Sufficiency of reserves, - Quality of investments, and - Management provided by Barr Investments Inc. The bonds are secured by a first mortgage lien on the project and all are project revenues, including the 15-year, nonrenewable Housing Assistance Program (HAP). Series B bonds have a second lien position on this revenue stream and are sold with the series C bonds ('CCC'), which have a third lien position on the project (see related rationale for series 1996C). For the year ended Dec. 31, 1997 audited financial statements demonstrate that debt service coverage on the series A bonds is 1.41 times (x),...
Companies mentioned in this report are: Oklahoma Cnty Fin Auth
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Oklahoma Cnty Fin Auth