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Article: City problems won't affect Philadelphia School District notes. (Fitch Financial Wire)
- Article from:
- PR Newswire
- Article date:
- September 19, 1990
CopyrightCOPYRIGHT 1990 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CITY PROBLEMS WON'T AFFECT PHILADELPHIA SCHOOL DISTRICT NOTES
-- FITCH FINANCIAL WIRE --
NEW YORK, Sept. 19 /PRNewswire/ -- The Philadelphia School District's tax and revenue anticipation notes series of 1990-91 should not be affected by the cash problems being experienced by the city itself, Fitch says.
Although the city is the property tax collecting agent for the school district, two levels of protection are provided to ensure a smooth flow of all funds. The Pennsylvania Public School Code requires that the city shall ...