Search results
Results from the WOW.Com Content Network
The next month, in July 1983, WPPSS defaulted on $2.25 billion of municipal bonds, [10] [11] which is the second largest municipal bond default in U.S. history. [3] The court case that followed took nearly a decade to resolve, and WPPSS acquired the nickname "Whoops" in the media. [1] [12] [13] [14]
Prior to I-394, WPPSS had the authority to issue bonds without voter consent as a municipal corporation. [ 6 ] Just a few years later, with the failure of WPPSS to sell nearly US$961,000,000 (equivalent to $3,034,110,000 in 2023) in bonds to complete the project, WNP-3 was placed in an extended construction delay in July 1983 while nearly 76 ...
Nuclear Implosions: The Rise and Fall of the Washington Public Power Supply System is a 2008 book by Daniel Pope, a history professor at the University of Oregon, which traces the history of the Washington Public Power Supply System, a public agency which undertook to build five large nuclear power plants, one of the most ambitious U.S. construction projects in the 1970s.
A 2010 report noted that some $2.8 trillion worth of muni bonds were insured against default by private companies. Chances are, this knowledge is contributing to the recent rash of municipal ...
The default was the largest public default in Washington State since the WPPSS disaster of 1982 that defaulted on $2.25 billion in bonds. [12] In the fine the SEC also named the developer Global Entertainment and its then-president and CEO Richard Kozuback, the bankers, and a staff finance manager.
By Michael Cohick Senior Product Manager Despite rating changes and volatility in the municipal bond market for 2021, Moody’s annual report offers an overall picture of stability. We explore the ...
Prairiefire has paid only $130,000 on the principal of the $65 million bonds issued more than a decade ago. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290 ...
By 1980, about 2.5% of long-term municipal bonds were insured. [9] In 1983, the Washington Public Power Supply System (WPPSS) defaulted on $2.25 billion of revenue bonds relating to troubled nuclear power projects. Most of the 30,000 bondholders lost 60-90 cents on the dollar.