BRADENTON, Fla. — The Baker Correctional Development Corp. in Florida’s panhandle notified bondholders Monday that it entered a forbearance agreement for principal payments due to start next month on $45 million of unrated bonds sold in 2008.

The forbearance agreement delays the nonprofit corporation’s principal payments until Feb. 3, 2013, because the one-story jail built with bond proceeds hasn’t achieved the projected number of inmates that supply the per-diem revenue needed to pay debt service, a jail official said.

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