Question: Can you answer the following question from the text provide, Does the city have outstanding any conduit debt? The City has issued several series of
Can you answer the following question from the text provide, Does the city have outstanding any conduit debt? The City has issued several series of housing revenue bonds to provide for lowcost housing. These bonds are secured by the
property financed and are payable solely from payments received on the underlying mortgage loans. As of September
$ million in housing revenue bonds were outstanding with an original issue value of $ million.
Revenue bonds have been issued by various related entities to provide for facilities located at the international airport. These
bonds are special limited obligations payable solely from and secured by a pledge of revenue to be received from agreements
between the entities and various third parties. As of September $ million in revenue and revenue refunding bonds
were outstanding with an original issue value of $ million.
The above bonds do not constitute a debt or pledge of the faith and credit of the City and accordingly have not been reported in
the accompanying financial statements.
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