Before the bond payment date, the state department of education has covenanted to intercept state school foundation payments should a district be unable to make required debt service payments.
http://www.businesswire.com/news/home/20130426005863/en/Fitch-Affirms-Ohios-School-District-Credit-Enhancement
http://www.businesswire.com/news/home/20130426005863/en/Fitch-Affirms-Ohios-School-District-Credit-Enhancement
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