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Commissioners approve TEFRA hearing action for nonprofit continuing-care operator
Summary
Montgomery County approved a TEFRA-related resolution permitting issuance of an amended note up to $11.5 million for Axe Management Services, a nonprofit continuing-care retirement community operator, with county officials emphasizing no county credit or taxing authority is pledged.
Montgomery County commissioners authorized a TEFRA-related resolution on Feb. 19 that clears a refinancing transaction for Axe Management Services Incorporated, a not-for-profit operator of continuing-care retirement communities.
Steve Forster, the county’s director of commerce, presented the request: "Before you today is a request by Axe…
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