27 March 2012 1 Comment

Millions for Billionaires: Harrisburg Office Building Bond Bailout

                                                

Joe DiStefano at PhillyDeals outlines a Millions of Dollars of Bondholder Bailout: “ Our story opens in 1998, when the Dauphin County General Authority, one of the many local financing agencies that keep politicians and their bankers, lawyers, and advisers busy, raised $86 million – through bonds sold to Merrill Lynch, PaineWebber, First Union mutual funds, and Wilmington Trust – to buy Forum Place.”

One Response to “Millions for Billionaires: Harrisburg Office Building Bond Bailout”

  1. bobguzzardi 31 December 2014 at 12:08 pm #

    State buys Forum Place for $100 million-plus from Dauphin County General Authority
    http://www.pennlive.com/midstate/index.ssf/2012/01/state_buys_forum_place_for_100.html

    The state paid more than $100 million to buy the Forum Place in downtown Harrisburg from the Dauphin County General Authority.

    Most of the money — more than $99 million — was passed directly to the authority’s debt holders to settle a series of bonds the authority entered into in 1998 to fund its purchase of the 10-story office building.


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