SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 7, 2000
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SECURED INCOME L.P.
(Exact name of registrant as specified in its charter)
Delaware 0 -17412 06-1185846
(State or other jurisdiction of (Commission file number (I.R.S. employer
incorporation or organization) identification no.)
c/o Wilder Richman Resources Corporation
599 West Putnam Avenue
Greenwich, Connecticut
06830
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (203) 869-0900
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Item 5. Other Events.
On Wednesday, June 7, 2000, Columbia Associates, one of the
partnerships in which Secured Income L.P. is invested, refinanced mortgages on
its Westmont apartment complex. In connection with such refinancing, Columbia
Associates caused Freddie Mac to replace Citibank as the credit enhancer,
modified the structure and utilization of the mortgage escrows, and eliminated
the cash distribution restrictions. Secured Income L.P. understands that after
the payment of costs related to the refinancing of the Columbia Associates
mortgages and the establishment of certain reserves, Columbia Associates will
have cash available for distribution of approximately $11.8 million. Secured
Income L.P. further understands that Columbia Associates intends to use such
amount to (a) make a distribution to Secured Income L.P. of approximately $8.3
million, (b) repay operating deficit loans and other advances that the general
partners of Columbia Associates have provided (including interest) of
approximately $3,246,000, and (c) pay accrued investor service fees of
approximately $160,000.
Secured Income L.P. currently anticipates that a distribution will be
made on or about July 31, 2000 to Unit Holders of record as of June 30, 2000 in
the amount of approximately $8.35 per Unit.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
Secured Income L.P. has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
Date: June 8, 2000 SECURED INCOME L.P.
By: Wilder Richman Resources Corporation
General Partner
By: /s/ Richard P. Richman
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Name: Richard P. Richman
Title: President
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