Article: Pennsylvania Convention Center Authority signs bond purchase.

PENNSYLVANIA CONVENTION CENTER AUTHORITY SIGNS BOND PURCHASE

PHILADELPHIA, Dec. 20 /PRNewswire/ -- Today the Pennsylvania Convention Center Authority (PCCA) announced the signing of the bond purchase contract with its underwriting group headed by PaineWebber.

The bonds, which were sold yesterday, will provide funds for the construction of the new convention center. The result of yesterday's activity will reduce the maximum annual debt service obligation of $24.7 million, which was approved in the City Council ordinance, by $3 million.

At its regularly scheduled monthly meeting, the PCCA board applauded the outstanding efforts of its ...

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