Summary: Oklahoma County Financial Authority, Oklahoma Oklahoma County Independent School District No. 52 (Midwest City-Del City); Appropriations Jan 12
- Language: English
- Published: January 2012
- Region: Oklahoma
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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