Word: bonding
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Dates: during 1980-1989
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...worst being the accident at Three Mile Island. But none is potentially more costly than the financial tragedy unfolding in Washington State. Next week the Washington Public Power Supply System is expected to fail to make a $15.6 million monthly debt-service payment to Chemical Bank on bonds worth $2.25 billion. The securities were issued starting in 1976 to pay for two nuclear power plants that have already been scrapped. A default would likely endanger completion of three other unfinished WPPSS plants on which $6.1 billion is owed. Moreover, the uncertainty that it would create could shake the very foundations...
...WPPSS does not make its debt-service payment on May 31, it will have 90 days to find the money. If it cannot come up with funds, then Chemical Bank, as bond fund trustee, or the lenders will be able to declare the bonds immediately due. Such an action would doom the entire project and push WPPSS into receivership, making it the biggest municipal bankruptcy in U.S. history...
...home during a remission, Eric seals a special bond with his father. Each evening they visit a nearly empty mall because Eric must be isolated against infection. There they window-shop and occasionally play Space Invaders. Pringle gives Eric's medicine a personality. Vincristine, a derivative of the periwinkle plant that is responsible for Eric's baldness, is dubbed "Sheriff Pete Periwinkle," aiming to outdraw the bad blood cells. But the sheriff loses, and the pain returns with a shock: "This five-year-old is no longer protected, and he knows...
...bond issue will probably be floated in June or July to raise approximately $300 million, Financial Vice President Thomas O'Brien said. The Corporation's endorsement of these figures represents the last major step before the sale takes place, he added. Harvard received approval for the issue from a state agency last month...
...total of $300 million, which includes $12 million for a genetics laboratory at Brigham and Women's Hospital, will make the bond sale the largest ever by a university. It brings the price tag for MATEP--which still must pass a series of hearings before it generates electricity--to over twelve times the cost budgeted...