OFFICIAL STATEMENT RELATING TO $53,195,000* NORTHERN KENTUCKY UNIVERSITY GENERAL RECEIPTS BONDS, 2014 SERIES A

Size: px
Start display at page:

Download "OFFICIAL STATEMENT RELATING TO $53,195,000* NORTHERN KENTUCKY UNIVERSITY GENERAL RECEIPTS BONDS, 2014 SERIES A"

Transcription

1 This Preliminary Official Statement and information contained herein are subject to change, completion or amendment without notice. These securities may not be sold nor may offers to buy be accepted prior to the time the Official Statement is delivered in final form. Under no circumstances shall this Preliminary Official Statement constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. PRELIMINARY OFFICIAL STATEMENT DATED NOVEMBER 21, 2013 (Bonds to be sold December 3, 2013 at 11:00 a.m. ET) NEW ISSUE RATING: Moody's: Aa3 Book-Entry-Only (See "Rating" herein) In the opinion of Bond Counsel for the 2014 Series A Bonds, based upon an analysis of laws, regulations, rulings and court decisions, and assuming continuing compliance with certain covenants made by the University, and subject to the conditions and limitations set forth herein under the caption "TAX EXEMPTION," interest on the 2014 Series A Bonds (defined below) is excludable from gross income for Federal income tax purposes and is not a specific item of tax preference for purposes of the Federal individual or corporate alternative minimum taxes. Interest on the 2014 Series A Bonds (defined below) is exempt from Kentucky income tax and the 2014 Series A Bonds are exempt from ad valorem taxation by the Commonwealth of Kentucky and any of its political subdivisions. See "TAX EXEMPTION" herein. OFFICIAL STATEMENT RELATING TO $53,195,000* NORTHERN KENTUCKY UNIVERSITY GENERAL RECEIPTS BONDS, 2014 SERIES A Dated: Date of delivery Due: September 1, as shown below The 2014 Series A Bonds will be issued only as fully registered bonds, and when issued, will be registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York ("DTC"), which will act as securities depository for the 2014 Series A Bonds. Purchasers will not receive certificates representing their ownership interest in the 2014 Series A Bonds purchased. So long as DTC or its nominee is the registered owner of the 2014 Series A Bonds, payments of the principal of and interest due on the Bonds will be made directly to DTC. The 2014 Series A Bonds bear interest from their dated date, payable semiannually, on March 1 and September 1, commencing March 1, Principal of, premium, if any, and interest on the 2014 Series A Bonds will be paid directly to DTC by U.S. Bank National Association, having offices in Louisville, Kentucky, as Trustee and Paying Agent. The 2014 Series A Bonds shall be issued only as fully registered bonds in the denomination of $5,000 or integral multiples thereof, and shall mature on September 1, in accordance with the following schedule: Interest Price/ Interest Price/ Date Amount* Rate Yield Date Amount* Rate Yield September 1, 2014 $2,035,000 % September 1, 2024 $2,560,000 % September 1, ,045,000 September 1, ,660,000 September 1, ,065,000 September 1, ,770,000 September 1, ,095,000 September 1, ,890,000 September 1, ,130,000 September 1, ,020,000 September 1, ,175,000 September 1, ,155,000 September 1, ,235,000 September 1, ,305,000 September 1, ,300,000 September 1, ,465,000 September 1, ,380,000 September 1, ,635,000 September 1, ,465,000 September 1, ,810,000 herein. The 2014 Series A Bonds are subject to optional redemption prior to their stated maturities as described The 2014 Series A Bonds constitute special obligations of Northern Kentucky University and do not constitute a debt, liability or obligation of the Commonwealth of Kentucky nor a pledge of the full faith and credit of the Commonwealth. The 2014 Series A Bonds constitute Obligations under the Trust Agreement dated as of May 1, 2007 between the University and the Trustee, and the payment of the principal of, premium, if any, and interest on 2014 Series A Bonds is secured by a pledge of the University's General Receipts, as defined in the Trust Agreement. See "SECURITY FOR THE 2014 SERIES A BONDS." The 2014 Series A Bonds are issued subject to the approval of legality by Peck, Shaffer & Williams LLP, Covington, Kentucky, Bond Counsel. Delivery of the 2014 Series A Bonds is expected on January 7, 2014 in New York, New York, through the facilities of DTC. Dated: December, 2013 *Indicates preliminary, subject to change throughout.

2 NORTHERN KENTUCKY UNIVERSITY BOARD OF REGENTS Dennis Repenning, Chair Elizabeth L. Thompson, Vice Chair Nathaniel G. Smith, Secretary Richard A. Boehne Jacqueline S. Emerine Virginia G. Fox Terry L. Mann Stephen A. Meier Erik Pederson Andra R. Ward Brenda L. Wilson TRUSTEE AND PAYING AGENT U.S. Bank National Association Louisville, Kentucky BOND COUNSEL Peck, Shaffer & Williams LLP Covington, Kentucky FINANCIAL ADVISOR J.J.B. Hilliard, W.L. Lyons, LLC Louisville, Kentucky Year CUSIP NUMBERS Cusip # Year Cusip # September 1, 2014 September 1, 2024 September 1, 2015 September 1, 2025 September 1, 2016 September 1, 2026 September 1, 2017 September 1, 2027 September 1, 2018 September 1, 2028 September 1, 2019 September 1, 2029 September 1, 2020 September 1, 2030 September 1, 2021 September 1, 2031 September 1, 2022 September 1, 2032 September 1, 2023 September 1, 2033 i

3 REGARDING USE OF THIS OFFICIAL STATEMENT This Official Statement does not constitute an offering of any security other than the original offering of the 2014 Series A Bonds of Northern Kentucky University identified on the cover page hereof. No person has been authorized by Northern Kentucky University to give any information or to make any representation other than that contained in this Official Statement, and if given or made such other information or representation must not be relied upon as having been given or authorized by Northern Kentucky University or the Financial Advisor. This Official Statement does not constitute an offer to sell or the solicitation of an offer to buy, and there shall not be any sale of the 2014 Series A Bonds by any person in any jurisdiction in which it is unlawful to make such offer, solicitation or sale. The information and expressions of opinion herein are subject to change without notice, and neither the delivery of this Official Statement nor any sale made hereunder shall, under any circumstances, create any implication that there has been no change in the affairs of Northern Kentucky University since the date hereof. Neither the Securities and Exchange Commission nor any other federal, state or other governmental entity or agency, except Northern Kentucky University, will pass upon the accuracy or adequacy of this Official Statement or approve the 2014 Series A Bonds for sale (see "APPROVAL OF ISSUANCE OF 2014 SERIES A BONDS"). ii

4 THIS PAGE INTENTIONALLY LEFT BLANK

5 TABLE OF CONTENTS INTRODUCTORY STATEMENT...1 THE 2014 SERIES A BONDS...1 General...1 Book-Entry-Only System...1 Redemption Provisions...1 SECURITY FOR THE 2014 SERIES A BONDS...2 Pledge of General Receipts...2 State Intercept...3 Budgetary Process in the Commonwealth...3 Additional Obligations...4 SOURCES AND USES OF FUNDS...4 THE PROJECT...4 THE TRUST AGREEMENT...4 THE UNIVERSITY...4 General...4 Statement of Mission...5 Geographic Region...5 Scope of Programs...6 Governing Board...6 Administrative Officers...6 Future Debt...8 TAX EXEMPTION...8 General...8 Original Issue Premium...9 Original Issue Discount...10 CONTINUING DISCLOSURE...10 PENDING LITIGATION...12 APPROVAL OF LEGALITY...12 FINANCIAL ADVISOR...12 APPROVAL OF ISSUANCE OF 2014 SERIES A BONDS...12 FINANCIAL STATEMENTS...12 CERTIFICATE CONCERNING OFFICIAL STATEMENT...12 COMPLETENESS OF OFFICIAL STATEMENT...13 RATING...13 UNDERWRITING...13 MISCELLANEOUS...13 APPENDIX A: Information Pertaining to Northern Kentucky University APPENDIX B: Consolidated Financial Statements of Northern Kentucky University as of and for the years ended June 30, 2013 and 2012 APPENDIX C: Summary of the Trust Agreement APPENDIX D: Form of Bond Counsel Opinion APPENDIX E: Book-Entry-Only System APPENDIX F: Form of Continuing Disclosure Agreement iii

6 THIS PAGE INTENTIONALLY LEFT BLANK

7 OFFICIAL STATEMENT RELATING TO $53,195,000* NORTHERN KENTUCKY UNIVERSITY GENERAL RECEIPTS BONDS, 2014 SERIES A INTRODUCTORY STATEMENT This Official Statement, which includes the cover page and the Appendices appended hereto, is being distributed by Northern Kentucky University (the "University") to furnish pertinent information to all who may become owners of its General Receipts Bonds, 2014 Series A (the "2014 Series A Bonds") being offered hereby pursuant to the provisions of Sections to of the Kentucky Revised Statutes and Sections to of the Kentucky Revised Statutes, and pursuant to the terms of a Trust Agreement dated as of May 1, 2007 as supplemented by a Seventh Supplemental Trust Agreement dated as of January 1, 2014 between the University and U.S. Bank National Association (together, the "Trust Agreement"). The summaries and references to Sections of the Kentucky Revised Statutes and the Trust Agreement, as included in this Official Statement, do not purport to be comprehensive or definitive and are qualified in their entirety by reference to each such document. Unless otherwise defined herein, capitalized terms will have the meanings set forth in APPENDIX C. General THE 2014 SERIES A BONDS The 2014 Series A Bonds will be dated the date set forth on the cover page of this Official Statement, will be issued in fully registered form and in denominations of $5,000 or any integral multiples thereof, and will mature as to principal and will bear interest as set forth on the cover page. Interest accruing on the 2014 Series A Bonds will be payable semiannually on March 1 and September 1 of each year, commencing March 1, 2014, to Holders of record on the preceding February 15 and August 15, respectively. Book-Entry-Only System The 2014 Series A Bonds initially will be issued solely in book-entry form to be held in the bookentry-only system maintained by The Depository Trust Company ("DTC"), New York, New York. So long as such book-entry system is used, only DTC will receive or have the right to receive physical delivery of 2014 Series A Bonds and, except as otherwise provided herein with respect to tenders by Beneficial Owners of Beneficial Ownership Interests, each as hereinafter defined, Beneficial Owners will not be or be considered to be, and will not have any rights as, owners or Holders of the 2014 Series A Bonds under the Resolution and Series Resolution. For additional information about DTC and the bookentry-only system see "APPENDIX E Book-Entry-Only System." Redemption Provisions Optional Redemption. The 2014 Series A Bonds stated to mature on or after September 1, 2024 are subject to redemption prior to maturity at the option of the University on or after March 1, 2024, in whole or in part on any date (less than all of such 2014 Series A Bonds to be selected by lot in such manner as determined by the Trustee), at the price of par plus accrued interest to the redemption date. *Preliminary; subject to change throughout.

8 Mandatory Sinking Fund Redemption. The 2014 Series A Bonds maturing on the dates set forth below are subject to mandatory sinking fund redemption prior to maturity at a redemption price of 100% of the principal amount to be redeemed, plus accrued interest to the redemption date, on the dates, in the years and in the principal amounts as follows: Maturing September 1, Maturing September 1, Date Amount Date Amount September 1, September 1, September 1, September 1, *Maturity Selection of Bonds for Redemption. The University has directed the Trustee to notify DTC that in the event less than all of any maturity of 2014 Series A Bonds are to be redeemed (including mandatory sinking fund redemption), any such redemption shall be on a pro rata basis in a principal amount equal to authorized denominations of $5,000 or any integral multiple thereof. The University and the Trustee are not making any representation relating to, and do not have any responsibility or obligation with respect to, whether DTC will follow the direction to redeem 2014 Series A Bonds on a pro rata basis in the event of a partial redemption as described above. In the event that a 2014 Series A Bond subject to redemption is in a denomination larger than $5,000, a portion of such 2014 Series A Bond may be redeemed, but only in a principal amount equal to $5,000 or any integral multiple thereof, if the 2014 Series A Bond is one of the maturities or amounts or part of the maturities or amounts called for redemption. Upon surrender of any 2014 Series A Bond for redemption in part, the Trustee and Paying Agent shall (authenticate and) deliver an exchange 2014 Series A Bond or 2014 Series A Bonds in an aggregate principal amount equal to the unredeemed portion of the 2014 Series A Bond so surrendered. Notice of Redemption. The Trustee and Paying Agent shall give notice of any redemption by sending at least one such notice by United States mail, first class, postage prepaid, not less than 30 and not more than 60 days prior to the date fixed for redemption to the registered owner of each 2014 Series A Bond to be redeemed in whole or in part, at the address shown on the bond register as of the date of mailing of such notice. Such notice shall identify (i) by designation, letters, numbers or other distinguishing marks, the 2014 Series A Bonds or portions thereof to be redeemed, (ii) the redemption price to be paid, (iii) the date fixed for redemption and (iv) the place or places where the amounts due upon redemption are payable. Pledge of General Receipts SECURITY FOR THE 2014 SERIES A BONDS Each 2014 Series A Bond is an "Obligation" under the Trust Agreement and the University has pledged its General Receipts as security for its payment obligations thereunder. "General Receipts" means, as reported in the Financial Statements (having the designations, to the extent not otherwise defined herein, set forth in the Financial Statements or such successor designations that may hereafter be used in Financial Statements): (a) certain operating and non-operating revenues of the University, being (i) Student Registration Fees, (ii) nongovernmental grants and contracts, (iii) sales and services of educational departments, (iv) auxiliary enterprises, (v) other operating revenue, (vi) state appropriations, (vii) capital grants and gifts, (viii) capital appropriations, (ix) investment income, (x) realized and unrealized gain on investments and (xi) other nonoperating revenues; 2

9 (b) but excluding (i) any receipts described in clause (a) which are contracts, grants, gifts, donations or pledges and receipts therefrom which, under restrictions imposed in such contracts, grants, gifts, donations or pledges, or, which as a condition of the receipt thereof or of amounts payable thereunder are not available for payment of Debt Service Charges, (ii) federal grants and contracts, (iii) federal appropriations, (iv) state and local grants and contracts and (v) state endowment match; provided, however, that General Receipts may (c) include any other receipts that may be designated as General Receipts from time to time by a resolution of the Board delivered to the Trustee; (d) exclude any receipts not heretofore pledged, which may be designated from time to time by a resolution of the Board delivered to the Trustee; and (e) exclude any receipts heretofore pledged, which may be designated from time to time by a resolution of the Board delivered to the Trustee and each Rating Service then rating any Obligations, but only if each such Rating Service confirms in writing to the University that the exclusion of any such receipt would not cause a reduction or withdrawal of the then current rating on any Outstanding Obligations. Upon issuance of the 2014 Series A Bonds, the University will have outstanding, certain Housing System Revenue Bonds (the "Housing Bonds"), to which General Receipts described in (a)(iv) are pledged on a priority basis to the pledge of those General Receipts under the Trust Agreement. The University has covenanted not to issue any additional Housing Bonds. The prior pledge of those General Receipts securing Housing Bonds will terminate when there are no Housing Bonds outstanding. The University also currently has outstanding its General Receipts Bonds, 2007 Series A (the "2007 Series A Bonds"), General Receipts Bonds, 2008 Series A (the "2008 Series A Bonds"), General Receipts Bonds, 2010 Series A (the "2010 Series A Bonds"), General Receipts Refunding Bonds, 2010 Series B (the "2010 Series B Bonds"), General Receipts Bonds, 2011 Series A (the "2011 Series A Bonds") and General Receipts Refunding Bonds, 2013 Series A (the "2013 Series A Bonds") secured by the Trust Agreement. See "APPENDIX A" for information regarding outstanding Housing Bonds, 2007 Series A Bonds, 2008 Series A Bonds, 2010 Series A Bonds, 2010 Series B Bonds, 2011 Series A Bonds and 2013 Series A Bonds. State Intercept If the University fails to make timely payment of any 2014 Series A Bond, the Secretary of the Finance and Administration Cabinet of the Commonwealth of Kentucky (the "Cabinet") is obligated, pursuant to KRS 164A.608, to apply to such payment, any funds that have been appropriated to the University that have not yet been disbursed. Payments due on the 2014 Series A Bonds are required to be deposited with the Trustee at least ten days prior to their due date. If the amount required to pay debt service is not on deposit by that date, the Trustee is obligated under the Trust Agreement to immediately notify the Secretary of the Cabinet of the default in payment. Under KRS 164A.608, the Secretary of the Cabinet is required, within five days of the default, to remit the amount required to pay the amount due on any 2014 Series A Bond to the Trustee from those undisbursed funds. Budgetary Process in the Commonwealth The General Assembly is required by the Kentucky Constitution to adopt measures providing for the Commonwealth's revenues and appropriations for each fiscal year. The Governor is required by law to submit a biennial State Budget (the "State Budget") to the General Assembly during the legislative session held in each even numbered year. State Budgets have generally been adopted by the General 3

10 Assembly during those legislative sessions, which end in mid-april, to be effective upon the Governor's signature for appropriations commencing for a two-year period beginning the following July 1. The University is required to submit its budget to the General Assembly for approval as a part of the State Budget. If a State Budget has not been enacted by the date principal of or interest on the 2014 Series A Bonds is due, the University would not have the budgetary authority to make that principal or interest payment. The pledge of General Receipts by the University described herein is independent of the State Budget process. Additional Obligations The University has reserved the right to issue additional Obligations secured by a pledge of General Receipts. See "THE UNIVERSITY Future Debt" and "APPENDIX C SUMMARY OF THE TRUST AGREEMENT." SOURCES AND USES OF FUNDS The sources and uses of funds in connection with the issuance of the 2014 Series A Bonds are as follows: Sources of Funds Principal Amount of Bonds $ [Less] [Plus] Net Original Issue [Discount] [Premium] Total Sources of Funds $ Uses of Funds Deposit to Project Fund $ Deposit to 2014 Series A Cost of Issuance Account Underwriter's Discount Total Uses of Funds $ THE PROJECT The proceeds of the 2014 Series A Bonds will be used by the University to (i) finance the renovation and expansion of the Albright Health Center and the acquisition and renovation of a new residence hall (collectively, the "Project"), and (ii) pay costs of issuing the 2014 Series A Bonds. THE TRUST AGREEMENT The terms and provisions of the Trust Agreement control both outstanding Obligations and all Obligations that may be issued pursuant to the Trust Agreement, including the 2014 Series A Bonds. Please see "APPENDIX C SUMMARY OF THE TRUST AGREEMENT." General THE UNIVERSITY Northern Kentucky University, the newest of Kentucky's eight state universities, was founded in However, the roots of the University can be traced back another twenty years. In 1948, a two-year Extension Center of the University of Kentucky was located in the First District Elementary School in Covington. Then, as Northern Community College, the Center moved to the Park Hills area of Covington 4

11 in Six years later the General Assembly of Kentucky authorized the creation of a four-year college, Northern Kentucky State College (NKSC). A Board of Regents and a consultant were appointed by the governor to assist in planning the new school. In September 1970, NKSC began offering courses for students pursuing a bachelor's degree. Also, technical and semi-professional two-year programs leading to the degree of Associate of Applied Science were offered in accounting technology, nursing and professional secretaryship. In 1971, thirdyear courses were added to the curriculum with the degrees of Bachelor of Arts and Bachelor of Science being initiated in business, education, and most of the basic arts and sciences. Also in 1971, the Salmon P. Chase College of Law, formerly an independent law school in Cincinnati, merged with Northern Kentucky State College. Graduate programs were initiated in The first building on the new campus in Highland Heights was completed in time for fall semester in In addition to the opening of Louie B. Nunn Hall, the University added fourth-year courses to the curriculum in The first bachelor's degree degrees were awarded in May 1973, and course offerings have been continually expanded to meet the needs of a growing student body. On February 25, 1976, Governor Julian Carroll signed House Bill 180, making Northern Kentucky State College a university. Full status was recognized on June 19, Major construction of the campus began in 1972 and continues today to accommodate a growing enrollment that is now over 15,000 students. Statement of Mission The mission of Northern Kentucky University is to educate students to succeed in their chosen life roles; be informed, contributing members of their communities - regionally, nationally and internationally; and pursue satisfying and fulfilling lives. The university will offer a comprehensive array of baccalaureate and master's programs as well as law and other selected doctoral programs that meet regional needs. The university supports multi-dimensional excellence across the full breadth of its work: teaching and learning, research and creative activity, and outreach and public engagement. Northern Kentucky University fosters a community that values openness, inclusion and respect. The university is committed to intellectual and creative freedom and to the open expression of ideas in ways that support scholarship and advance the learning process. The university embraces its regional stewardship role as reflected in its significant contribution to the intellectual, social, economic, cultural and civic vitality of the region and the commonwealth. Northern Kentucky University achieves its mission through outstanding faculty, state-of-the-art programs and community partnerships. The university prides itself on its learner focus, entrepreneurial spirit, global perspective, innovative programs, small classes, technology-enhanced academic programs, co-curricular learning opportunities, and emphasis on active learning, including student research, internships, co-op programs and service learning. The university values its role as an integral part of the metropolitan region and recognizes the region as a powerful source of knowledge and experience that can strengthen, enhance and enrich every aspect of the university. Regional stewardship informs every dimension of the university's mission. Geographic Region The University serves the citizens of northern Kentucky with a particular focus on the metropolitan area contiguous to greater Cincinnati. Student residential services are provided. 5

12 Scope of Programs The University offers students a broad range of educational programs emphasizing traditional collegiate and liberal studies. Recognizing the needs of its region, the University's primary mission is to provide instruction at the associate and bachelor's degree levels. The University offers over 70 undergraduate programs, over 50 masters and masters level certificate programs, a Juris Doctor program, a Doctor of Education program and a Doctor of Nursing Practice program, approved by the Council on Postsecondary Education. A metropolitan university, the University takes advantage of its close proximity to other higher education and postsecondary institutions through reciprocity agreements with the University of Cincinnati, Cincinnati State Technical and Community College, Southern State Community College and Clark State Community College. The University serves Indiana and Ohio students through special tuition arrangements. The University also provides applied research, service, and continuing education programs related to the needs of its region. The proximity of the University to urban areas provides significant potential for growth. Not only is it situated within the Greater Cincinnati metropolitan area, but more than 435,000 Kentuckians are within the eight county service region. Two of Kentucky's thirteen second class cities and three of its eighteen third class cities are located within this eight county service region. The University's headcount enrollment has grown over the last 10 years from 13,900 to over 15,200. As a public comprehensive university located in a major metropolitan area, Northern Kentucky University delivers innovative, learner-centered education and engages in impactful scholarly and creative activities, all of which empower students for fulfilling careers and meaningful lives, while contributing to the social and economic vitality of the region. As part of the University s commitment to student success, the region and the commonwealth, a new strategic plan is in the final stages of review. The new strategic plan will guide the University towards its 50th anniversary in 2018 and lay the foundation for the next 50 years. Governing Board The governing body of the University is the Board of Regents of Northern Kentucky University, (the "Board"), consisting of eight members appointed by the Governor of Kentucky, one faculty member elected by the faculty, one student member elected by students and one staff member elected by the staff. The government of the University is vested in the Board, and the Board has general supervision of lands, buildings and other properties of the University and, subject to the statutes of the Commonwealth of Kentucky, control of all expenses thereof. Administrative Officers The President and Chief Administrative Officer of the University is Geoffrey S. Mearns. Gail W. Wells is the Vice President for Academic Affairs and Provost; Kenneth H. Ramey is the Vice President for Administration and Finance; Eric C. Gentry is the Vice President for University Advancement; Peter Gitau is the Vice President for Student Affairs; Sue Hodges Moore is the Vice President for Planning, Policy and Budget, Sara L. Sidebottom, Esq. is the Vice President for Legal Affairs and General Counsel; Joseph E. Wind is the Vice President for Government and Community Relations and Ken Bothof is the Director of Intercollegiate Athletics. Brief biographies follow: Geoffrey S. Mearns, President of Northern Kentucky University Mr. Mearns joined the staff of Northern Kentucky University in August Prior to coming to the University, he served as the dean and professor of law and most recently as the Provost and Senior 6

13 Vice President for Academic Affairs at Cleveland State University. Prior to joining Cleveland State University, Mr. Mearns was a practicing lawyer for more than 15 years, including serving as federal prosecutor in the United States Department of Justice. His academic credentials include a juris doctor from the University of Virginia and a bachelor s degree from Yale University. Gail W. Wells, Vice President for Academic Affairs and Provost Dr. Wells joined the staff of Northern Kentucky University in 1981 as an Assistant Professor of Mathematics and Computer Science. She has served in a number of positions at the University, including Chair of the Department of Mathematics and Computer Science, from In 1999, she assumed the position of Dean, College of Arts and Sciences. She became Vice President for Academic Affairs and Provost in Her academic credentials include an Ed.D. from the University of Cincinnati, a M.A. from Northern Kentucky University, and a B.S. from Eastern Kentucky University, as well as attending the Harvard Institute for Educational Management in Kenneth H. Ramey, Vice President for Administration and Finance Mr. Ramey joined the staff of Northern Kentucky University in He was formerly Assistant Bursar and Assistant Vice President for Business Affairs at NKU. In 2003, he was named Vice President for Administration and Finance. His academic credentials include a M.P.A. from Kentucky State University and a B.A from Northern Kentucky University. Eric C. Gentry, Vice President for University Advancement Mr. Gentry joined the staff of Northern Kentucky University in October Prior to coming to the University, he served as the Associate Vice President for Development at the University of Texas at San Antonio. He served as the director of development for the Erik Jonsson School of Engineering and Computer Science at the University of Texas at Dallas prior to his time at UT San Antonio. His academic credentials include a Master s Degree from the University of Akron and a B.S. from Murray State University. Peter Gitau, Vice President for Student Affairs Dr. Gitau joined the staff of Northern Kentucky University in April Prior to coming to the University, he served as the dean of student life at the University of Dubuque in Iowa, and most recently as the Associate Vice Chancellor and Dean of Students at Southern Illinois University, Carbondale. His academic credentials include a Ph.D. from the University of Kansas, a Master s Degree from Eastern Illinois University and a bachelor s degree from Kenyatta University in Nairobi. Sue Hodges Moore, Vice President for Planning, Policy and Budget Sue Hodges Moore was named Vice President for Planning, Policy, and Budget in August Prior to coming to Northern Kentucky University in 2005, Dr. Moore spent eleven years at the Council on Postsecondary Education in which she was named Executive Vice President in 2001 and served as Interim President in Dr. Moore completed her baccalaureate degree at Northern Kentucky University and holds a MBA degree from Xavier University in Cincinnati, Ohio. In 1994, she received her doctoral degree in education administration from the University of Louisville. Sara L. Sidebottom, Vice President for Legal Affairs and General Counsel Ms. Sidebottom joined the staff of Northern Kentucky University in 1996 as Associate Legal Counsel and assumed her current position in Ms. Sidebottom formerly served as a District Court 7

14 Judge in Kenton County, Kentucky. Her academic credentials include a juris doctorate from Salmon P. Chase College of Law. Joseph E. Wind, Vice President for Government and Community Relations Mr. Wind joined the staff of Northern Kentucky University in Prior to joining Northern Kentucky University, Mr. Wind served as director of public affairs at Corporex Companies, Inc., general manager of Shandwick International Public Relations and senior vice president of the Northern Kentucky Chamber of Commerce. Mr. Wind earned his B.A. in Psychology from Northern Kentucky University in 1987 and attended the Institute for Organizational Management at the University of Notre Dame and the University of Delaware. Ken Bothof, Director of Intercollegiate Athletics Mr. Bothof joined the staff of Northern Kentucky University in August Prior to coming to the University, he served as the athletic director at the University of Wisconsin-Green Bay. Prior to his tenure at Green Bay, he served as the associate athletic director for external operations at Saint Louis University. His academic credentials include a B.A. from Buena Vista University. Future Debt The University has no current plans to issue additional bonds. Future State Budgets may authorize other projects at the University to be directly funded from proceeds of Obligations, including Agency Fund Revenue Bonds issued by the State Property and Buildings Commission or the Kentucky Asset/Liability Commission. In addition, Obligations to refund outstanding bonds, notes and Obligations may be issued to achieve debt service savings. General TAX EXEMPTION In the opinion of Bond Counsel for the 2014 Series A Bonds, based upon an analysis of existing laws, regulations, rulings and court decisions, interest on the 2014 Series A Bonds is excludable from gross income for Federal income tax purposes. Bond Counsel for the 2014 Series A Bonds is also of the opinion that interest on the 2014 Series A Bonds will not be a specific item of tax preference under Section 57 of the Code for purposes of the federal individual or corporate alternative minimum taxes. Furthermore, Bond Counsel for the 2014 Series A Bonds is of the opinion that interest on the 2014 Series A Bonds is exempt from income taxation by the Commonwealth and the 2014 Series A Bonds are exempt from ad valorem taxation by the Commonwealth and any of its political subdivisions. A copy of the opinion of Bond Counsel for the 2014 Series A Bonds is set forth in APPENDIX D, attached hereto. The Code imposes various restrictions, conditions, and requirements relating to the exclusion from gross income for Federal income tax purposes of interest on obligations such as the 2014 Series A Bonds. The University has covenanted to comply with certain restrictions designed to ensure that interest on the 2014 Series A Bonds will not be includable in gross income for Federal income tax purposes. Failure to comply with these covenants could result in interest on the 2014 Series A Bonds being includable in gross income for Federal income tax purposes and such inclusion could be required retroactively to the date of issuance of the 2014 Series A Bonds. The opinion of Bond Counsel assumes compliance with these covenants. However, Bond Counsel has not undertaken to determine (or to inform any person) whether any actions taken (or not taken) or events occurring (or not occurring) after the date 8

15 of issuance of the 2014 Series A Bonds may adversely affect the tax status of the interest on the 2014 Series A Bonds. Certain requirements and procedures contained or referred to in the Indenture and other relevant documents may be changed and certain actions (including, without limitation, defeasance of the 2014 Series A Bonds) may be taken or omitted under the circumstances and subject to the terms and conditions set forth in such documents. Bond Counsel expresses no opinion as to any 2014 Series A Bonds or the interest thereon if any such change occurs or action is taken or omitted upon the advice or approval of bond counsel other than Peck, Shaffer & Williams LLP. Although Bond Counsel for the 2014 Series A Bonds has rendered an opinion that interest on the 2014 Series A Bonds is excludable from gross income for Federal income tax purposes and that interest on the 2014 Series A Bonds is excludable from gross income for Kentucky income tax purposes, the ownership or disposition of, or the accrual or receipt of interest on, the 2014 Series A Bonds may otherwise affect a Holder's Federal, state or local tax liabilities. The nature and extent of these other tax consequences may depend upon the particular tax status of the Holder or the Holder's other items of income or deduction. Bond Counsel expresses no opinions regarding any tax consequences other than what is set forth in its opinion and each Holder or potential Holder is urged to consult with tax counsel with respect to the effects of purchasing, holding or disposing the 2014 Series A Bonds on the tax liabilities of the individual or entity. For example, corporations are required to include all tax-exempt interest in determining "adjusted current earnings" under Section 56(c) of the Code, which may increase the amount of any alternative minimum tax owed. Similarly, tax-exempt interest may also increase the amount of any environmental tax owed under Section 59 of the Code, which is based on the alternative minimum taxable income of any corporation subject to that tax. Ownership or disposition of the 2014 Series A Bonds may result in other collateral Federal, state or local tax consequence for certain taxpayers, including, without limitation, increasing the federal tax liability of certain foreign corporations subject to the branch profits tax imposed by Section 884 of the Code, increasing the federal tax liability of certain insurance companies, under Section 832 of the Code, increasing the federal tax liability and affecting the status of certain S Corporations subject to Sections 1362 and 1375 of the Code, and increasing the federal tax liability of certain individual recipients of social security or Railroad Retirement benefits, under Section 86 of the Code. Ownership of any 2014 Series A Bonds may also result in the limitation of interest and certain other deductions for financial institutions and certain other taxpayers, pursuant to Section 265 of the Code. Finally, residence of the Holder of 2014 Series A Bonds in a state other than Kentucky or being subject to tax in a state other than Kentucky, may result in income or other tax liabilities being imposed by such states or their political subdivisions based on the interest or other income from the 2014 Series A Bonds. The University has not designated the 2014 Series A Bonds as "qualified tax-exempt obligations" under Section 265 of the Code. Original Issue Premium "Acquisition Premium" is the excess of the cost of a bond over the stated redemption price of such bond at maturity or, for bonds that have one or more earlier call dates, the amount payable at the next earliest call date. The 2014 Series A Bonds that bear an interest rate that is higher than the yield (as shown on the cover page hereof), are being initially offered and sold to the public at an Acquisition Premium (the "Premium Bonds"). For federal income tax purposes, the amount of Acquisition Premium on each bond the interest on which is excludable from gross income for federal income tax purposes ("tax-exempt bonds") must be amortized and will reduce the Holder's adjusted basis in that bond. However, no amount of amortized Acquisition Premium on tax-exempt bonds may be deducted in determining the Holder's taxable income for federal income tax purposes. The amount of any Acquisition 9

16 Premium paid on the Premium Bonds, or on any of the 2014 Series A Bonds, that must be amortized during any period will be based on the "constant yield" method, using the original Holder's basis in such bonds and compounding semiannually. This amount is amortized ratably over that semiannual period on a daily basis. Holders of any 2014 Series A Bonds, including any Premium Bonds, purchased at an Acquisition Premium should consult their own tax advisors as to the actual effect of such Acquisition Premium with respect to their own tax situation and as to the treatment of Acquisition Premium for state tax purposes. Original Issue Discount The 2014 Series A Bonds that bear an interest rate that is lower than the yield (as shown on the cover page hereof) are being offered and sold to the public at an original issue discount ("OID") from the amounts payable at maturity thereon (the "Discount Bonds"). OID is the excess of the stated redemption price of a bond at maturity (the face amount) over the "issue price" of such bond. The issue price is the initial offering price to the public (other than to bond houses, brokers or similar persons acting in the capacity of underwriters or wholesalers) at which a substantial amount of bonds of the same maturity are sold pursuant to that initial offering. For federal income tax purposes, OID on each bond will accrue over the term of the bond, and for the Discount Bonds, the amount of accretion will be based on a single rate of interest, compounded semiannually (the "yield to maturity"). The amount of OID that accrues during each semi-annual period will do so ratably over that period on a daily basis. With respect to an initial purchaser of a Discount Bond at its issue price, the portion of OID that accrues during the period that such purchaser owns the Discount Bond is added to such purchaser's tax basis for purposes of determining gain or loss at the maturity, redemption, sale or other disposition of that Discount Bond and thus, in practical effect, is treated as stated interest, which is excludable from gross income for federal income tax purposes. Holders of Discount Bonds should consult their own tax advisors as to the treatment of OID and the tax consequences of the purchase of such Discount Bonds other than at the issue price during the initial public offering and as to the treatment of OID for state tax purposes. CONTINUING DISCLOSURE In accordance with Securities and Exchange Commission Rule 15c2-12 (the "Rule"), the University (the "Obligated Person") will agree, pursuant to a Continuing Disclosure Agreement to be dated the first day of the month in which the 2014 Series A Bonds are sold (the "Disclosure Agreement"), to be delivered on the date of delivery of the 2014 Series A Bonds, to cause the following information to be provided: (a) to the Municipal Securities Rulemaking Board (the "MSRB"), certain annual financial information and operating data, including audited financial statements prepared in accordance with generally accepted accounting principles, generally consistent with the information contained in Appendices A, B and C; such information shall be provided on or before 270 days following the fiscal year ending on the preceding June 30, commencing with the fiscal year ending June 30, 2014; (b) to the MSRB, in a timely manner, not in excess of ten business days after the occurrence of the event, notice of the occurrence of the following events with respect to the 2014 Series A Bonds: (i) (ii) (iii) (iv) (v) Principal and interest payment delinquencies; Non-payment related defaults, if material; Unscheduled draws on debt service reserves reflecting financial difficulties; Unscheduled draws on credit enhancements reflecting financial difficulties; Substitution of credit or liquidity providers, or their failure to perform; 10

17 (vi) (vii) (viii) (ix) (x) (xi) (xii) (xiii) (xiv) Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form TEB) or other material notices or determinations with respect to the tax status of the security, or other material events affecting the tax-exempt status of the security; Modifications to rights of security holders, if material; Bond calls, if material, and tender offers (except for mandatory scheduled redemptions not otherwise contingent upon the occurrence of an event); Defeasances; Release, substitution or sale of property securing repayment of the securities, if material; Rating changes; Bankruptcy, insolvency, receivership or similar event of the obligated person (Note: For the purposes of this event, the event is considered to occur when any of the following occur: The appointment of a receiver, fiscal agent or similar officer for an obligated person in a proceeding under the U.S. Bankruptcy Code or in any other proceeding under state or federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the assets or business of the obligated person, or if such jurisdiction has been assumed by leaving the existing governing body and officials or officers in possession but subject to the supervision and orders of a court or governmental authority, or the entry of an order confirming a plan of reorganization, arrangement or liquidation by a court or governmental authority having supervision or jurisdiction over substantially all of the assets or business of the obligated person); The consummation of a merger, consolidation, or acquisition involving an obligated person or the sale of all or substantially all of the assets of the obligated person, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material; and Appointment of a successor or additional trustee or the change of name of a trustee, if material; and (c) to the MSRB, notice of a failure (of which the Obligated Persons have knowledge) of an Obligated Person to provide the required Annual Financial Information on or before the date specified in the Disclosure Agreement. The Disclosure Agreement provides a Holder of the 2014 Series A Bonds, including Beneficial Owners of the 2014 Series A Bonds, with certain enforcement rights in the event of a failure by the University to comply with the terms thereof; however, default under the Disclosure Agreement does not constitute an event of default under the Resolutions. The Disclosure Agreement may also be amended or terminated under certain circumstances in accordance with the Rule as more fully described therein. Holders of the 2014 Series A Bonds are advised that the Disclosure Agreement, the form of which is obtainable from the Financial Advisor, should be read in its entirety for more complete information regarding its contents. The University has complied with its continuing disclosure requirements as of the date of this Official Statement. Financial information regarding the University may be obtained from the Vice President for Administration and Finance, Northern Kentucky University, 605 Administrative Center, Highland Heights, Kentucky

18 PENDING LITIGATION There is no controversy or litigation of any nature now pending or threatened restraining or enjoining the issuance, sale, execution or delivery of the 2014 Series A Bonds, or in any way contesting or affecting the validity of the 2014 Series A Bonds or any proceedings of the University taken with respect to the issuance of sale thereof, or the pledge or application of any moneys or security provided for the payment of the 2014 Series A Bonds or the due existence or powers of the University. APPROVAL OF LEGALITY Legal matters incident to the authorization, issuance, sale and delivery of the 2014 Series A Bonds are subject to the approval of Peck, Shaffer & Williams LLP, Covington, Kentucky, Bond Counsel to the University. The approving legal opinion of Bond Counsel will be printed on the 2014 Series A Bonds and will contain a statement of tax exemption as represented herein. Bond Counsel has reviewed the information herein pertaining to the 2014 Series A Bonds under the headings "THE 2014 SERIES A BONDS," "SECURITY FOR THE 2014 SERIES A BONDS," "THE TRUST AGREEMENT," "TAX EXEMPTION," APPENDIX C, APPENDIX D and APPENDIX F, and is of the opinion that such information is a fair summary of the principal provisions of the instruments and information therein described. Said firm has not otherwise participated in the preparation of the Official Statement or the Appendices attached hereto and has not verified the accuracy or completeness of the information contained under any heading other than those stated above, nor of any financial information, enrollment numbers, projections, or computations relating thereto, and therefore, can make no representation with respect to such information. A certification as to the matters set forth under "PENDING LITIGATION" will be delivered by the University with the 2014 Series A Bonds. FINANCIAL ADVISOR J.J.B. Hilliard, W.L. Lyons, LLC, Louisville, Kentucky, has acted as Financial Advisor to the University in connection with the issuance of the 2014 Series A Bonds and will receive a fee, payable from Bond proceeds, for its services as Financial Advisor. APPROVAL OF ISSUANCE OF 2014 SERIES A BONDS Pursuant to Chapter 42 of the Kentucky Revised Statutes, issuance of the 2014 Series A Bonds must be approved by the Cabinet's Office of Financial Management. FINANCIAL STATEMENTS The consolidated financial statements of the University as of and for the years ended June 30, 2013 and 2012, included in this Official Statement in APPENDIX B, have been audited by Dean Dorton Allen Ford, PLLC, independent auditors, as stated in their report appearing on page 4 of the consolidated financial statements. CERTIFICATE CONCERNING OFFICIAL STATEMENT Concurrently with the delivery of the 2014 Series A Bonds, the Vice President for Administration and Finance will certify that, to the best of his knowledge, the Official Statement did not as of the date of delivery of the 2014 Series A Bonds, contain any untrue statements of a material fact or omit to state a material fact which should be included therein for the purpose for which the Official Statement is to be used, or which is necessary in order to make the statements contained therein, in light of the circumstances under which they were made, not misleading in any material respect. 12

19 COMPLETENESS OF OFFICIAL STATEMENT The Board has approved and caused this Official Statement to be executed and delivered by its Chairman. This Official Statement is deemed final by the Board for purposes of Securities and Exchange Commission Rule 15c2-12(b)(1) as of the date hereof. The financial information supplied by the Board and reported in APPENDIX A and APPENDIX B herein is represented by the Board to be correct. With respect to APPENDIX A, accounts required by Federal and State laws, rules and regulations to be audited annually by independent certified public accountants have been so audited and the financial information extracted from the annual audits and presented herein is incomplete to the degree that accounts not required to be so audited have not been included in the annual audits contained in APPENDIX B. RATING Moody's Investors Service, Inc. ("Moody's") has assigned the 2014 Series A Bonds the rating of " Aa3". The rating reflects only the views of Moody's. Explanations of the significance of the rating may be obtained from the Rating Agency as follows: Moody's Investors Service, Inc., 7 World Trade Center, 250 Greenwich Street, New York, New York 10007, (212) A rating is not a recommendation to buy, sell or hold the 2014 Series A Bonds. There is no assurance that such ratings will continue for any given period of time or that they may not be lowered or withdrawn entirely. Any such downward change in or withdrawal of such ratings could have an adverse effect on the market price of the 2014 Series A Bonds. UNDERWRITING The 2014 Series A Bonds are to be purchased by (the "Underwriter"). The Underwriter has agreed, subject to certain conditions, to purchase the 2014 Series A Bonds at an aggregate purchase price of $ (which is equal to the principal amount of the 2014 Series A Bonds [less net original issue discount] [plus net original issue premium] of $ and less underwriting discount of $ ). The Underwriter will be obligated to purchase all of the 2014 Series A Bonds if any are purchased. The Underwriter has advised the University that it intends to make a public offering of the 2014 Series A Bonds at the initial public offering prices/yields set forth on the cover page hereof, provided, however, that the Underwriter has reserved the right to make concessions to dealers and to change such initial public offering prices as the Underwriter shall deem necessary in connection with the marketing of the 2014 Series A Bonds. MISCELLANEOUS All quotations from, and summaries and explanations of, the Kentucky Revised Statutes, the Resolution and the Series Resolution, contained herein do not purport to be complete, and reference is made to such laws and documents for full and complete statements of their provisions. The Appendices attached hereto are a part of this Official Statement. Copies, in reasonable quantity, of the Resolution or the Series Resolution may be obtained from J.J.B. Hilliard, W.L. Lyons, LLC, 500 West Jefferson, Ste. 700, Louisville, KY 40202, Attention Mr. Gregory C. Phillips (502) Any statements in this Official Statement involving matters of opinion, whether or not expressly so stated, are intended as such and not as representations of fact. Except when otherwise indicated, the information set forth herein has been obtained from the University and has not been verified as to accuracy or completeness by, and is not to be construed as a representation of, the Financial Advisor or 13

20 Bond Counsel. This Official Statement is not to be construed as a contract or agreement between the University and the purchasers or owners of any of the 2014 Series A Bonds. NORTHERN KENTUCKY UNIVERSITY Attest: NORTHERN KENTUCKY UNIVERSITY By: /s/ Chair, Board of Regents By: /s/ Secretary 14

$26,035,000* NORTHERN KENTUCKY WATER DISTRICT REFUNDING REVENUE BONDS, 2013 SERIES B

$26,035,000* NORTHERN KENTUCKY WATER DISTRICT REFUNDING REVENUE BONDS, 2013 SERIES B This Preliminary Official Statement and information contained herein are subject to change, completion or amendment without notice. These securities may not be sold nor may an offer to buy be accepted

More information

PRELIMINARY OFFICIAL STATEMENT DATED MARCH 28, 2013 Ratings: Fitch: Moodys: S&P:

PRELIMINARY OFFICIAL STATEMENT DATED MARCH 28, 2013 Ratings: Fitch: Moodys: S&P: This is a Preliminary Official Statement and the information contained herein is subject to completion and amendment in a final Official Statement. Under no circumstances shall this Preliminary Official

More information

NOTICE OF SALE TOWN OF WOODBURY ORANGE COUNTY, NEW YORK. $500,000 BOND ANTICIPATION NOTES FOR LAND ACQUISITION 2015 (The Note )

NOTICE OF SALE TOWN OF WOODBURY ORANGE COUNTY, NEW YORK. $500,000 BOND ANTICIPATION NOTES FOR LAND ACQUISITION 2015 (The Note ) NOTICE OF SALE TOWN OF WOODBURY ORANGE COUNTY, NEW YORK $500,000 BOND ANTICIPATION NOTES FOR LAND ACQUISITION 2015 (The Note ) SALE DATE: July 30, 2015 TELEPHONE: (631) 331-8888 TIME: 11:00 A.M. FACSIMILE:

More information

$40,694,000* IOWA STUDENT LOAN LIQUIDITY CORPORATION

$40,694,000* IOWA STUDENT LOAN LIQUIDITY CORPORATION This Preliminary Official Statement and the information contained herein are subject to completion or amendment. Under no circumstances shall this Preliminary Official Statement constitute an offer to

More information

Davenport & Company LLC Financial Advisor

Davenport & Company LLC Financial Advisor PRELIMINARY OFFICIAL STATEMENT DATED JANUARY 22, 2016 THIS PRELIMINARY OFFICIAL STATEMENT AND THE INFORMATION CONTAINED HEREIN ARE SUBJECT TO COMPLETION OR AMENDMENT IN A FINAL OFFICIAL STATEMENT. Under

More information

$9,490,000 MISSISSIPPI DEVELOPMENT BANK SPECIAL OBLIGATION BONDS, SERIES 2009A (HARRISON COUNTY, MISSISSIPPI HIGHWAY CONSTRUCTION PROJECT)

$9,490,000 MISSISSIPPI DEVELOPMENT BANK SPECIAL OBLIGATION BONDS, SERIES 2009A (HARRISON COUNTY, MISSISSIPPI HIGHWAY CONSTRUCTION PROJECT) TWO NEW ISSUES - BOOK-ENTRY ONLY OFFICIAL STATEMENT RATINGS: Moody s: A1 S&P: AA- (See RATINGS herein) In the opinion of Butler, Snow, O Mara, Stevens & Cannada, PLLC, Jackson, Mississippi, Bond Counsel,

More information

BOND ORDINANCE NO. 16-2015

BOND ORDINANCE NO. 16-2015 BOND ORDINANCE NO. 16-2015 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ELIZABETHTOWN, KENTUCKY, AUTHORIZING AND APPROVING THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS, SERIES OF 2015 IN A PRINCIPAL

More information

THE BOARD OF EDUCATION OF THE BOROUGH OF LITTLE SILVER IN THE COUNTY OF MONMOUTH, NEW JERSEY

THE BOARD OF EDUCATION OF THE BOROUGH OF LITTLE SILVER IN THE COUNTY OF MONMOUTH, NEW JERSEY THE BOARD OF EDUCATION OF THE BOROUGH OF LITTLE SILVER IN THE COUNTY OF MONMOUTH, NEW JERSEY NOTICE OF $750,000 SCHOOL BOND SALE (BOOK-ENTRY-ONLY) (BANK QUALIFIED) (CALLABLE) SUMMARY ISSUER: The Board

More information

$18,345,000* County of Pitt, North Carolina General Obligation Community College Bonds Series 2015

$18,345,000* County of Pitt, North Carolina General Obligation Community College Bonds Series 2015 Notice of Sale and Bid Form Note: Bonds are to be awarded on a True Interest Cost (TIC) basis as described herein. No bid for fewer than all of the bonds offered or for less than 100% of the aggregate

More information

GOLDMAN, SACHS & CO.

GOLDMAN, SACHS & CO. NEW ISSUE BOOK-ENTRY ONLY Fitch: A+ Moody s: A1 Standard & Poor s: AA- See RATINGS herein $152,925,000 NEW JERSEY HEALTH CARE FACILITIES FINANCING AUTHORITY STATE CONTRACT BONDS (Hospital Asset Transformation

More information

$41,170,000 CITY OF SUFFOLK, VIRGINIA General Obligation and Refunding Bonds, Series 2015

$41,170,000 CITY OF SUFFOLK, VIRGINIA General Obligation and Refunding Bonds, Series 2015 NEW ISSUE BOOK ENTRY ONLY RATINGS: MOODY'S: Aa1 STANDARD & POOR'S: AAA FITCH: AAA (SEE "RATINGS" HEREIN) In the opinion of Bond Counsel, under current law and assuming the compliance with certain covenants

More information

Citigroup BOOK-ENTRY ONLY

Citigroup BOOK-ENTRY ONLY NEW ISSUE BOOK-ENTRY ONLY RATINGS: (See RATINGS herein) In the opinion of Kutak Rock LLP, Bond Counsel, under existing laws, regulations, rulings and judicial decisions and assuming the accuracy of certain

More information

$140,000 HITCHCOCK COUNTY, NEBRASKA HIGHWAY ALLOCATION FUND REFUNDING BONDS SERIES 2014

$140,000 HITCHCOCK COUNTY, NEBRASKA HIGHWAY ALLOCATION FUND REFUNDING BONDS SERIES 2014 NEW ISSUE BOOK-ENTRY-ONLY BANK-QUALIFIED NON-RATED In the opinion of Kutak Rock LLP, Bond Counsel, under existing laws, regulations, rulings and judicial decisions and assuming the accuracy of certain

More information

PRELIMINARY OFFICIAL STATEMENT DATED JUNE 5, 2009. NEW ISSUE RATING: Standard & Poor's Ratings Services A+

PRELIMINARY OFFICIAL STATEMENT DATED JUNE 5, 2009. NEW ISSUE RATING: Standard & Poor's Ratings Services A+ This Preliminary Official Statement and the information contained herein are subject to completion or amendment. The Bonds may not be sold nor may an offer to buy beaccepted prior to the time the Official

More information

NOTICE OF SALE ALABAMA PUBLIC SCHOOL AND COLLEGE AUTHORITY

NOTICE OF SALE ALABAMA PUBLIC SCHOOL AND COLLEGE AUTHORITY NOTICE OF SALE ALABAMA PUBLIC SCHOOL AND COLLEGE AUTHORITY $554,520,000 * Capital Improvement Refunding Bonds, Series 2014-B Dated the Date of Initial Delivery ALABAMA PUBLIC SCHOOL AND COLLEGE AUTHORITY

More information

NOTICE OF BOND SALE $30,000,000 FLORIDA GULF COAST UNIVERSITY FINANCING CORPORATION

NOTICE OF BOND SALE $30,000,000 FLORIDA GULF COAST UNIVERSITY FINANCING CORPORATION NOTICE OF BOND SALE $30,000,000 FLORIDA GULF COAST UNIVERSITY FINANCING CORPORATION consisting of $30,000,000 Capital Improvement Revenue Bonds, Series 2013A (Housing Project) NOTICE IS HEREBY GIVEN that

More information

MERCHANT CAPITAL, L.L.C.

MERCHANT CAPITAL, L.L.C. This Preliminary Official Statement and the information contained herein are subject to completion and amendment without notice. The Series 2007 Bonds may not be sold nor may offers to buy be accepted

More information

FIRST SOUTHWEST COMPANY

FIRST SOUTHWEST COMPANY This Preliminary Official Statement and the information contained herein are subject to completion or amendment. These securities may not be sold nor may offers to buy be accepted prior to the time the

More information

NOTICE OF SALE COUNTY OF PASSAIC, NEW JERSEY $3,000,000 BONDS CONSISTING OF

NOTICE OF SALE COUNTY OF PASSAIC, NEW JERSEY $3,000,000 BONDS CONSISTING OF NOTICE OF SALE COUNTY OF PASSAIC, NEW JERSEY $3,000,000 BONDS CONSISTING OF $1,500,000 COUNTY COLLEGE BONDS, SERIES 2016A AND $1,500,000 COUNTY COLLEGE BONDS, SERIES 2016B (COUNTY COLLEGE BOND ACT, P.L.

More information

NOW, THEREFORE, BE IT RESOLVED BY THE FAU FINANCE CORPORATION:

NOW, THEREFORE, BE IT RESOLVED BY THE FAU FINANCE CORPORATION: RESOLUTION A RESOLUTION OF THE FAU FINANCE CORPORATION APPROVING THE FINANCING OF CERTAIN STUDENT HOUSING FACILITIES LOCATED ON THE BOCA RATON CAMPUS OF FLORIDA ATLANTIC UNIVERSITY AND AUTHORIZING THE

More information

NOTICE OF INTENT TO SELL $9,900,000 ROCHESTER COMMUNITY SCHOOL BUILDING CORPORATION FIRST MORTGAGE BONDS, SERIES 2015

NOTICE OF INTENT TO SELL $9,900,000 ROCHESTER COMMUNITY SCHOOL BUILDING CORPORATION FIRST MORTGAGE BONDS, SERIES 2015 APPENDIX i NOTICE OF INTENT TO SELL $9,900,000 ROCHESTER COMMUNITY SCHOOL BUILDING CORPORATION FIRST MORTGAGE BONDS, SERIES 2015 Upon not less than twenty-four (24) hours notice given by telephone by

More information

$252,545,000 NEW JERSEY HEALTH CARE FACILITIES FINANCING AUTHORITY STATE CONTRACT BONDS (Hospital Asset Transformation Program) Series 2008A

$252,545,000 NEW JERSEY HEALTH CARE FACILITIES FINANCING AUTHORITY STATE CONTRACT BONDS (Hospital Asset Transformation Program) Series 2008A Fitch: A+ Moody s: A1 Standard & Poor s: AA- NEW ISSUE BOOK-ENTRY ONLY (SEE RATINGS HEREIN) In the opinion of McManimon & Scotland, L.L.C., Bond Counsel to the Authority, under existing law and assuming

More information

Date of Sale: Wednesday, September 2, 2015 Moody s Investors Service Aa2 Between 9:45 and 10:00 A.M., C.D.T. (Open Speer Auction) Official Statement

Date of Sale: Wednesday, September 2, 2015 Moody s Investors Service Aa2 Between 9:45 and 10:00 A.M., C.D.T. (Open Speer Auction) Official Statement New Issue Investment Rating: Date of Sale: Wednesday, September 2, 2015 Moody s Investors Service Aa2 Between 9:45 and 10:00 A.M., C.D.T. (Open Speer Auction) Official Statement Subject to compliance by

More information

OFFICIAL NOTICE OF SALE

OFFICIAL NOTICE OF SALE OFFICIAL NOTICE OF SALE $3,500,000 REUNION RANCH WATER CONTROL AND IMPROVEMENT DISTRICT (A Political Subdivision of the State of Texas Located in Hays County, Texas) UNLIMITED TAX BONDS, SERIES 2015 Selling

More information

This Preliminary Official Statement is deemed nearly final and is dated March 17, 2014

This Preliminary Official Statement is deemed nearly final and is dated March 17, 2014 This Preliminary Official Statement and the information contained herein are subject to completion, amendment or other change without any notice. The securities described herein may not be sold nor may

More information

FLORIDA WATER POLLUTION CONTROL FINANCING CORPORATION WATER POLLUTION CONTROL REVENUE BONDS, SERIES 2001 SERIES 2003 SERIES 2008A SERIES 2010A

FLORIDA WATER POLLUTION CONTROL FINANCING CORPORATION WATER POLLUTION CONTROL REVENUE BONDS, SERIES 2001 SERIES 2003 SERIES 2008A SERIES 2010A ANNUAL FINANCIAL INFORMATION AND OPERATING DATA SUBMITTED PURSUANT TO RULE 15c2-12 OF THE SECURITIES AND EXCHANGE COMMISSION FOR THE FLORIDA WATER POLLUTION CONTROL FINANCING CORPORATION WATER POLLUTION

More information

OFFICIAL NOTICE OF SALE CITY OF GAINESVILLE, GEORGIA $90,980,000* WATER AND SEWERAGE REFUNDING REVENUE BONDS, SERIES 2014

OFFICIAL NOTICE OF SALE CITY OF GAINESVILLE, GEORGIA $90,980,000* WATER AND SEWERAGE REFUNDING REVENUE BONDS, SERIES 2014 OFFICIAL NOTICE OF SALE CITY OF GAINESVILLE, GEORGIA $90,980,000* WATER AND SEWERAGE REFUNDING REVENUE BONDS, SERIES 2014 Bids for the purchase of the above bonds (the Series 2014 Bonds ) will be received

More information

$10,000,000* CITY OF LA MARQUE, TEXAS (GALVESTON COUNTY, TEXAS) TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2016

$10,000,000* CITY OF LA MARQUE, TEXAS (GALVESTON COUNTY, TEXAS) TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2016 The Preliminary Official Statement and the information contained herein are subject to completion or amendment. These securities may not be sold, nor any offers to buy be accepted prior to the time the

More information

$74,105,000* COUNTY OF YORK (Commonwealth of Pennsylvania) General Obligation Floating Rate Notes, Series of 2015

$74,105,000* COUNTY OF YORK (Commonwealth of Pennsylvania) General Obligation Floating Rate Notes, Series of 2015 This Preliminary Official Statement and the information herein are subject to completion or amendment. Under no circumstances shall this Preliminary Official Statement constitute an offer to sell or the

More information

BIDS DUE MONDAY, FEBRUARY 2, 2016, AT 10:00 AM, CST

BIDS DUE MONDAY, FEBRUARY 2, 2016, AT 10:00 AM, CST This Preliminary Official Statement and the information contained herein are subject to completion or amendment. These securities may not be sold nor may offers to buy be accepted prior to the time the

More information

$88,890,000 Illinois Health Facilities Authority Revenue Bonds, Series 2001 (The University of Chicago Hospitals and Health System)

$88,890,000 Illinois Health Facilities Authority Revenue Bonds, Series 2001 (The University of Chicago Hospitals and Health System) NEW ISSUE BOOK-ENTRY Ratings: See RATINGS In the opinion of Jones, Day, Reavis & Pogue, Bond Counsel to the Illinois Health Facilities Authority (the Authority ), assuming compliance with certain covenants,

More information

Maturity Schedule $7,895,000 Serial 2006 Bonds

Maturity Schedule $7,895,000 Serial 2006 Bonds NEW ISSUE BOOK-ENTRY ONLY RATING: S&P: BBB (See "Rating" herein) In the opinion of Bond Counsel, under current law and subject to conditions described in the section "TAX EXEMPTION," interest on the 2006

More information

2 Be it enacted by the People of the State of Illinois, 4 Section 1. Short title. This Act may be cited as the

2 Be it enacted by the People of the State of Illinois, 4 Section 1. Short title. This Act may be cited as the SB49 Enrolled LRB9201970MWcd 1 AN ACT concerning home mortgages. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 1. Short title. This Act may be

More information

FINANCE AND AUDIT COMMITTEE OF THE UTILITY DEBT SECURITIZATION AUTHORITY MINUTES OF THE 5 TH MEETING HELD ON JULY 28, 2015 IN UNIONDALE, NY

FINANCE AND AUDIT COMMITTEE OF THE UTILITY DEBT SECURITIZATION AUTHORITY MINUTES OF THE 5 TH MEETING HELD ON JULY 28, 2015 IN UNIONDALE, NY FINANCE AND AUDIT COMMITTEE OF THE UTILITY DEBT SECURITIZATION AUTHORITY MINUTES OF THE 5 TH MEETING HELD ON JULY 28, 2015 IN UNIONDALE, NY The Finance and Audit Committee (the Committee ) of the Utility

More information

SPEER FINANCIAL, INC. INDEPENDENT MUNICIPAL ADVISORS

SPEER FINANCIAL, INC. INDEPENDENT MUNICIPAL ADVISORS INDEPENDENT MUNICIPAL ADVISORS TO: FROM: RE: Purchasers of General Obligation Bonds David F. Phillips, Speer Financial Inc. Chicago Ridge Park District, DATE: October 16, 2015 Bid Packet The enclosed materials

More information

PRELIMINARY OFFICIAL STATEMENT DATED June 30, 2016 (Bonds to be Sold July 7, 2016 at 1:00 P.M. E.D.T.)

PRELIMINARY OFFICIAL STATEMENT DATED June 30, 2016 (Bonds to be Sold July 7, 2016 at 1:00 P.M. E.D.T.) This Preliminary Official Statement has been prepared for submission to prospective bidders for the bonds herein described and is in a form "deemed final" by the Corporation for purposes of SEC Rule 15c2-12(b)(1),

More information

STATE OF WEST VIRGINIA HIGHER EDUCATION POLICY COMMISSION

STATE OF WEST VIRGINIA HIGHER EDUCATION POLICY COMMISSION STATE OF WEST VIRGINIA HIGHER EDUCATION POLICY COMMISSION REVENUE REFUNDING BONDS (HIGHER EDUCATION FACILITIES), COMBINED SPECIAL-PURPOSE FINANCIAL STATEMENTS - MODIFIED CASH Years Ended CliftonLarsonAllen

More information

$96,490,000 Board of Governors of the Colorado State University System

$96,490,000 Board of Governors of the Colorado State University System NEW ISSUE BOOK ENTRY ONLY STATE INTERCEPT RATINGS : Moody s: Aa2 S&P: AA- UNDERLYING RATINGS : Moody s: Aa3 S&P: A+ See RATINGS herein. In the opinion of Kutak Rock LLP, Bond Counsel, under existing laws,

More information

AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF GANNETT SPINCO, INC.

AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF GANNETT SPINCO, INC. AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF GANNETT SPINCO, INC. Gannett Spinco, Inc., a corporation organized and existing under the laws of the State of Delaware, pursuant to Sections 242 and

More information

CYPRESS-FAIRBANKS INDEPENDENT SCHOOL DISTRICT (A political subdivision of the State of Texas located in Harris County, Texas)

CYPRESS-FAIRBANKS INDEPENDENT SCHOOL DISTRICT (A political subdivision of the State of Texas located in Harris County, Texas) OFFICIAL STATEMENT Dated November 10, 2015 NEW ISSUES - Book-Entry-Only Ratings: Moody s: Aaa S&P: AAA (See OTHER INFORMATION - Ratings and THE PERMANENT SCHOOL FUND GUARANTEE PROGRAM herein) In the opinion

More information

Dated: Date of Delivery Price: 100% Due: September 1, of the years shown on inside front cover.

Dated: Date of Delivery Price: 100% Due: September 1, of the years shown on inside front cover. NEW ISSUE Book-Entry Only RATINGS: See Ratings of the Bonds herein In the opinion of Bond Counsel, under existing law and assuming continuing compliance by the Authority with certain covenants which relate

More information

Automatic Dividend Reinvestment and Stock Purchase Plan

Automatic Dividend Reinvestment and Stock Purchase Plan Automatic Dividend Reinvestment and Stock Purchase Plan The Automatic Dividend Reinvestment and Stock Purchase Plan ("the Plan") of Media General, Inc. provides all registered holders of its Class A Common

More information

$6,710,000 CITY OF ARKADELPHIA, ARKANSAS PUBLIC EDUCATION FACILITIES BOARD (OUACHITA BAPTIST UNIVERSITY) REFUNDING REVENUE BONDS SERIES 2014

$6,710,000 CITY OF ARKADELPHIA, ARKANSAS PUBLIC EDUCATION FACILITIES BOARD (OUACHITA BAPTIST UNIVERSITY) REFUNDING REVENUE BONDS SERIES 2014 NEW ISSUE BOOK-ENTRY ONLY NOT RATED In the opinion of Bond Counsel, under existing law and assuming compliance with certain covenants, interest on the Bonds is excludable from gross income for federal

More information

$100,000,000 UPMC TAXABLE REVENUE BONDS SERIES 2011B

$100,000,000 UPMC TAXABLE REVENUE BONDS SERIES 2011B NEW ISSUE BOOK ENTRY ONLY $100,000,000 UPMC TAXABLE REVENUE BONDS SERIES 2011B RATINGS: Moody s: Aa3 S&P: A+ Fitch: AA- (See RATINGS herein.) In the opinion of Bond Counsel, interest on the 2011B Bonds

More information

Standard & Poor s Underlying Rating: A+ Moody s Insured Rating: A2 Moody s Underlying Rating: A2 See RATINGS herein.

Standard & Poor s Underlying Rating: A+ Moody s Insured Rating: A2 Moody s Underlying Rating: A2 See RATINGS herein. NEW ISSUE -- FULL BOOK-ENTRY Standard & Poor s Insured Rating: AA- Standard & Poor s Underlying Rating: A+ Moody s Insured Rating: A2 Moody s Underlying Rating: A2 See RATINGS herein. In the opinion of

More information

RELEVANT GOVT CODE AND ED CODE SECTIONS FOR SCHOOL DIST GO BONDS

RELEVANT GOVT CODE AND ED CODE SECTIONS FOR SCHOOL DIST GO BONDS RELEVANT GOVT CODE AND ED CODE SECTIONS FOR SCHOOL DIST GO BONDS Issues of particular interest to Treasurer-Tax Collectors are highlighted in blue Added comments are highlighted in Yellow GOVERNMENT CODE

More information

AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF DUKE ENERGY CORPORATION

AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF DUKE ENERGY CORPORATION AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF DUKE ENERGY CORPORATION DUKE ENERGY CORPORATION, a corporation organized and existing under the laws of the State of Delaware (the Corporation ), DOES

More information

Chapter 32 Utah Interlocal Financing Authority Act

Chapter 32 Utah Interlocal Financing Authority Act Chapter 32 Utah Interlocal Financing Authority Act 11-32-1 Short title. (1) This chapter shall be known as the "Utah Interlocal Financing Authority Act." (2) All bonds issued pursuant to authority of this

More information

RESOLUTION TO BORROW AGAINST ANTICIPATED DELINQUENT 2013 REAL PROPERTY TAXES

RESOLUTION TO BORROW AGAINST ANTICIPATED DELINQUENT 2013 REAL PROPERTY TAXES RESOLUTION TO BORROW AGAINST ANTICIPATED DELINQUENT 2013 REAL PROPERTY TAXES At a regular meeting of the Board of Commissioners of the County of Washtenaw, State of Michigan, held at Ann Arbor, Michigan,

More information

LUNA COUNTY, NEW MEXICO TAXABLE CAPITAL OUTLAY GROSS RECEIPTS TAX REVENUE BONDS SERIES 2007B ESCROW AGREEMENT

LUNA COUNTY, NEW MEXICO TAXABLE CAPITAL OUTLAY GROSS RECEIPTS TAX REVENUE BONDS SERIES 2007B ESCROW AGREEMENT LUNA COUNTY, NEW MEXICO TAXABLE CAPITAL OUTLAY GROSS RECEIPTS TAX REVENUE BONDS SERIES 2007B ESCROW AGREEMENT LUNA COUNTY, NEW MEXICO (the "Issuer"), and BOKF, NA DBA BANK OF ALBUQUERQUE, and its successors

More information

CHAPTER 2014-254. Committee Substitute for Committee Substitute for House Bill No. 1445

CHAPTER 2014-254. Committee Substitute for Committee Substitute for House Bill No. 1445 CHAPTER 2014-254 Committee Substitute for Committee Substitute for House Bill No. 1445 An act relating to the Citrus County Hospital Board, Citrus County; amending chapter 2011-256, Laws of Florida; authorizing

More information

$200,000,000* VIRGINIA COMMONWEALTH UNIVERSITY HEALTH SYSTEM AUTHORITY TAXABLE GENERAL REVENUE BONDS SERIES 2014A

$200,000,000* VIRGINIA COMMONWEALTH UNIVERSITY HEALTH SYSTEM AUTHORITY TAXABLE GENERAL REVENUE BONDS SERIES 2014A This Preliminary Official Statement and the information contained herein are subject to change, completion and amendment without notice. The Series 2014A Bonds may not be sold nor may an offer to buy be

More information

CN - 1 $50,000 (YOUR COMPANY NAME HERE) CONVERTIBLE SUBORDINATED PROMISSORY NOTE

CN - 1 $50,000 (YOUR COMPANY NAME HERE) CONVERTIBLE SUBORDINATED PROMISSORY NOTE THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, NOR UNDER ANY STATE SECURITIES LAW AND MAY NOT BE PLEDGED, SOLD, ASSIGNED OR TRANSFERRED UNLESS (I) A REGISTRATION STATEMENT

More information

$177,315,000 MASSACHUSETTS STATE COLLEGE BUILDING AUTHORITY Refunding Revenue Bonds Series 2016A

$177,315,000 MASSACHUSETTS STATE COLLEGE BUILDING AUTHORITY Refunding Revenue Bonds Series 2016A REFUNDING ISSUE-BOOK-ENTRY ONLY Moody s: Aa2 Standard & Poor s: AA See RATINGS herein. In the opinion of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., Bond Counsel, under existing law, and assuming

More information

AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF SUNCOKE ENERGY, INC.

AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF SUNCOKE ENERGY, INC. AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF SUNCOKE ENERGY, INC. SunCoke Energy, Inc., a corporation organized and existing under the laws of the State of Delaware, pursuant to Sections 242 and

More information

CHAPTER 42 WATER REVENUE BONDS

CHAPTER 42 WATER REVENUE BONDS Page 1 CHAPTER 42 WATER REVENUE BONDS AN ORDINANCE TO PROVIDE FOR THE ISSUANCE AND SALE OF WATER SUPPLY SYSTEM REVENUE BONDS OF THE CITY OF LAPEER FOR THE PURPOSE OF CONSTRUCTING IMPROVEMENTS, REPAIRS,

More information

$63,310,000 LOUISIANA LOCAL GOVERNMENT ENVIRONMENTAL FACILITIES AND COMMUNITY DEVELOPMENT AUTHORITY

$63,310,000 LOUISIANA LOCAL GOVERNMENT ENVIRONMENTAL FACILITIES AND COMMUNITY DEVELOPMENT AUTHORITY NEW ISSUE BOOK ENTRY ONLY Ratings: Unrated (See RATINGS herein) In the opinion of Butler Snow LLP, Bond Counsel, under existing law, (i) interest on the Series 2015A Bonds will be excludable from gross

More information

$4,090,000 TOWN OF ESTILL, SOUTH CAROLINA Waterworks and Sewer System Refunding and Improvement Revenue Bonds, Series 2016

$4,090,000 TOWN OF ESTILL, SOUTH CAROLINA Waterworks and Sewer System Refunding and Improvement Revenue Bonds, Series 2016 NEW ISSUE; BOOK ENTRY ONLY RATING: S&P: BBB BANK QUALIFIED (See RATING herein) In the opinion of Bond Counsel, under existing statutes, regulations, rulings and judicial decisions and assuming continuing

More information

$4,155,000* HOPKINS COUNTY (KENTUCKY) SCHOOL DISTRICT FINANCE CORPORATION SCHOOL BUILDING REVENUE BONDS SERIES 2014

$4,155,000* HOPKINS COUNTY (KENTUCKY) SCHOOL DISTRICT FINANCE CORPORATION SCHOOL BUILDING REVENUE BONDS SERIES 2014 This Preliminary Official Statement has been prepared for submission to prospective bidders for the bonds herein described and is in a form "deemed final" by the Corporation for purposes of SEC Rule 15c2-12(b)(1),

More information

KEYBANC CAPITAL MARKETS, INC.

KEYBANC CAPITAL MARKETS, INC. NEW ISSUE BOOK-ENTRY ONLY RATINGS: Standard & Poor s: AAA Moody s: Aaa See Ratings herein In the opinion of Squire Patton Boggs (US) LLP, Bond Counsel, under existing law (i) assuming continuing compliance

More information

NEW JERSEY EDUCATIONAL FACILITIES AUTHORITY

NEW JERSEY EDUCATIONAL FACILITIES AUTHORITY NEW ISSUE BOOK-ENTRY ONLY RATINGS: Moody s: Aaa S&P: AAA In the opinion of McCarter & English, LLP, Bond Counsel to the Authority, assuming compliance by the Authority and the University (as defined below)

More information

An ordinance recommended by the Board of Estimate and Apportionment authorizing and

An ordinance recommended by the Board of Estimate and Apportionment authorizing and BOARD BILL NO. INTRODUCED BY ALDERMAN STEPHEN CONWAY An ordinance recommended by the Board of Estimate and Apportionment authorizing and directing the St. Louis Municipal Finance Corporation (as further

More information

$2,845,000 NIPOMO COMMUNITY SERVICES DISTRICT WATER REVENUE REFUNDING BONDS Series 2013A

$2,845,000 NIPOMO COMMUNITY SERVICES DISTRICT WATER REVENUE REFUNDING BONDS Series 2013A NEW ISSUE BOOK-ENTRY ONLY RATINGS: S&P: AA (BAM Insured) Underlying Rating: S&P A (See RATINGS herein) In the opinion of Fulbright & Jaworski LLP, a member of Norton Rose Fulbright, Los Angeles, California,

More information

Debt Management Policies & Guidelines

Debt Management Policies & Guidelines Debt Management Policies & Guidelines January, 2004 PREPARED BY: ANDREW E. MEISNER, COUNTY TREASURER PATRICK M. DOHANY, COUNTY TREASURER I. COUNTY'S DEBT POLICY A. Purpose The County recognizes the foundation

More information

421033-49. The City Council of the City of North Liberty, Iowa, met on October 23, 2012, at o clock.m., at the, North Liberty, Iowa.

421033-49. The City Council of the City of North Liberty, Iowa, met on October 23, 2012, at o clock.m., at the, North Liberty, Iowa. Water Revenue Bonds MINUTES TO PROVIDE FOR THE ISSUANCE WATER REVENUE REFUNDING BONDS 421033-49 North Liberty, Iowa October 23, 2012 The City Council of the City of North Liberty, Iowa, met on October

More information

$200,000,000 * DESERT COMMUNITY COLLEGE DISTRICT (Riverside and Imperial Counties, California) 2016 General Obligation Refunding Bonds

$200,000,000 * DESERT COMMUNITY COLLEGE DISTRICT (Riverside and Imperial Counties, California) 2016 General Obligation Refunding Bonds PRELIMINARY OFFICIAL STATEMENT DATED DECEMBER, 2015 This Preliminary Official Statement and the information contained herein are subject to completion or amendment. These securities may not be sold, nor

More information

Puerto Rico Sales Tax Financing Corporation $737,046,992.35 Sales Tax Revenue Bonds, Series 2008A

Puerto Rico Sales Tax Financing Corporation $737,046,992.35 Sales Tax Revenue Bonds, Series 2008A NEW ISSUE BOOK-ENTRY ONLY See BOOK-ENTRY ONLY SYSTEM In the opinion of Hawkins Delafield & Wood LLP, Bond Counsel to the Corporation, under the provisions of the Acts of Congress now in force, and under

More information

Sixth Amended and Restated Certificate of Incorporation of Visa Inc.

Sixth Amended and Restated Certificate of Incorporation of Visa Inc. Sixth Amended and Restated Certificate of Incorporation of Visa Inc. Visa Inc., a corporation organized and existing under the laws of the State of Delaware (the Corporation ), hereby certifies that: 1.

More information

PRELIMINARY OFFICIAL STATEMENT DATED JANUARY 11, 2016

PRELIMINARY OFFICIAL STATEMENT DATED JANUARY 11, 2016 This Preliminary Official Statement and the information contained herein are subject to completion or amendment without notice. Under no circumstances shall this Preliminary Official Statement constitute

More information

OFFICIAL STATEMENT. $45,695,000 ERIE CITY WATER AUTHORITY (Erie County, Pennsylvania) WATER REVENUE BONDS, SERIES OF 2016

OFFICIAL STATEMENT. $45,695,000 ERIE CITY WATER AUTHORITY (Erie County, Pennsylvania) WATER REVENUE BONDS, SERIES OF 2016 OFFICIAL STATEMENT NEW ISSUE BOOK-ENTRY ONLY CUSIP PREFIX: 295542 Dated: Date of Delivery Due: December 1, see Maturity Schedule, inside front cover $45,695,000 ERIE CITY WATER AUTHORITY (Erie County,

More information

BUFFALO FISCAL STABILITY AUTHORITY ANNUAL DISCLOSURE REPORT

BUFFALO FISCAL STABILITY AUTHORITY ANNUAL DISCLOSURE REPORT BUFFALO FISCAL STABILITY AUTHORITY ANNUAL DISCLOSURE REPORT For the Year Ended June 30, 2013 Pursuant to Certain Continuing Disclosure Certificates and Continuing Disclosure Agreements Entered into Pursuant

More information

NOTICE OF SALE. $3,000,000 COUNTY OF GLOUCESTER, NEW JERSEY COUNTY COLLEGE BONDS, SERIES 2016 (Book-Entry-Only) (Non-Callable)

NOTICE OF SALE. $3,000,000 COUNTY OF GLOUCESTER, NEW JERSEY COUNTY COLLEGE BONDS, SERIES 2016 (Book-Entry-Only) (Non-Callable) NOTICE OF SALE $3,000,000 COUNTY OF GLOUCESTER, NEW JERSEY COUNTY COLLEGE BONDS, SERIES 2016 (Book-Entry-Only) (Non-Callable) ELECTRONIC PROPOSALS will be received via the BiDCOMP /Parity Electronic Competitive

More information

CALIFORNIA STATE UNIVERSITY, SAN MARCOS. Financial Statements. June 30, 2005 and 2004. (With Independent Auditors Report Thereon)

CALIFORNIA STATE UNIVERSITY, SAN MARCOS. Financial Statements. June 30, 2005 and 2004. (With Independent Auditors Report Thereon) Financial Statements (With Independent Auditors Report Thereon) Table of Contents Page Independent Auditors Report 1 Management s Discussion and Analysis 3 Financial Statements: Statements of Net Assets

More information

$356,465,000 MONROEVILLE FINANCE AUTHORITY (Allegheny County, Pennsylvania) UPMC REVENUE BONDS, SERIES 2012

$356,465,000 MONROEVILLE FINANCE AUTHORITY (Allegheny County, Pennsylvania) UPMC REVENUE BONDS, SERIES 2012 NEW ISSUE BOOK ENTRY ONLY DATED: Date of Delivery $356,465,000 MONROEVILLE FINANCE AUTHORITY (Allegheny County, Pennsylvania) UPMC REVENUE BONDS, SERIES 2012 RATINGS: Moody s: Aa3 S&P: A+ Fitch: AA- (See

More information

STATE OF NEW YORK GENERAL OBLIGATION BONDS

STATE OF NEW YORK GENERAL OBLIGATION BONDS NEW ISSUE In the opinion of the Attorney General of the State of New York, under existing law and assuming compliance with the tax covenants described herein, interest on the Series 2013A Tax-Exempt Bonds

More information

[SIGNATURE PAGE FOLLOWS]

[SIGNATURE PAGE FOLLOWS] [ ] TERM SHEET FOR SUBORDINATED VARIABLE PAYMENT DEBT (DEMAND DIVIDEND) THIS TERM SHEET outlines the principal terms of a proposed financing for [ ] (hereafter, the Company ), a [ ] corporation by [ ]

More information

CERTIFICATE OF DESIGNATION OF PREFERRED STOCK OF LIGHTING SCIENCE GROUP CORPORATION. To Be Designated Series B Preferred Stock

CERTIFICATE OF DESIGNATION OF PREFERRED STOCK OF LIGHTING SCIENCE GROUP CORPORATION. To Be Designated Series B Preferred Stock CERTIFICATE OF DESIGNATION OF PREFERRED STOCK OF LIGHTING SCIENCE GROUP CORPORATION To Be Designated Series B Preferred Stock Pursuant to Section 151(g) of the General Corporation Law of the State of Delaware

More information

Exhibit 2.01 CERTIFICATE OF MERGER. PREMCOR INC. (a Delaware corporation) with and into. VALERO ENERGY CORPORATION (a Delaware corporation)

Exhibit 2.01 CERTIFICATE OF MERGER. PREMCOR INC. (a Delaware corporation) with and into. VALERO ENERGY CORPORATION (a Delaware corporation) Exhibit 2.01 CERTIFICATE OF MERGER of PREMCOR INC. (a Delaware corporation) with and into VALERO ENERGY CORPORATION (a Delaware corporation) Pursuant to the provisions of Section 251(c) of the General

More information

VECTREN CORPORATION AUTOMATIC DIVIDEND REINVESTMENT AND STOCK PURCHASE PLAN

VECTREN CORPORATION AUTOMATIC DIVIDEND REINVESTMENT AND STOCK PURCHASE PLAN PROSPECTUS VECTREN CORPORATION AUTOMATIC DIVIDEND REINVESTMENT AND STOCK PURCHASE PLAN Vectren Corporation hereby offers to current and potential shareholders, including eligible employees of the Company

More information

DESCRIPTION OF THE PLAN

DESCRIPTION OF THE PLAN DESCRIPTION OF THE PLAN PURPOSE 1. What is the purpose of the Plan? The purpose of the Plan is to provide eligible record owners of common stock of the Company with a simple and convenient means of investing

More information

$64,995,504.55 CLOVIS UNIFIED SCHOOL DISTRICT (Fresno County, California) General Obligation Bonds Election of 2012, Series C

$64,995,504.55 CLOVIS UNIFIED SCHOOL DISTRICT (Fresno County, California) General Obligation Bonds Election of 2012, Series C NEW ISSUE FULL BOOK-ENTRY RATINGS: Standard & Poor s: AA Moody s: Aa2 See RATINGS herein. In the opinion of Jones Hall, A Professional Law Corporation, San Francisco, California, Bond Counsel, subject,

More information

NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY OF WICHITA, KANSAS, AS FOLLOWS:

NOW, THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE CITY OF WICHITA, KANSAS, AS FOLLOWS: ORDINANCE NO. 50-096 AN ORDINANCE AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF WATER AND SEWER UTILITY REVENUE BONDS, SERIES 2015C, OF THE CITY OF WICHITA, KANSAS; MAKING CERTAIN COVENANTS AND AGREEMENTS

More information

HONORABLE BILL LOCKYER Treasurer of the State of California As Agent for Sale

HONORABLE BILL LOCKYER Treasurer of the State of California As Agent for Sale NEW ISSUE BOOK-ENTRY ONLY Ratings: See "RATINGS" herein. In the opinion of Orrick, Herrington & Sutcliffe LLP, Bond Counsel, based upon an analysis of existing laws, regulations, rulings and court decisions,

More information

Honorable Bill Lockyer Treasurer of the State of California

Honorable Bill Lockyer Treasurer of the State of California NEW ISSUE BOOK-ENTRY ONLY RATINGS (See Ratings herein): Moody s: Aa1 Standard & Poor s: AAA NT OF WATER OF C A LIF ES N IA A ST TE RE UR C SO DEPARTM E In the opinion of Orrick, Herrington & Sutcliffe

More information

NATIONAL CONTRACTORS INSURANCE COMPANY, INC., A RISK RETENTION GROUP SUBSCRIPTION AND SHAREHOLDERS AGREEMENT

NATIONAL CONTRACTORS INSURANCE COMPANY, INC., A RISK RETENTION GROUP SUBSCRIPTION AND SHAREHOLDERS AGREEMENT 1 NATIONAL CONTRACTORS INSURANCE COMPANY, INC., A RISK RETENTION GROUP NOTICE SUBSCRIPTION AND SHAREHOLDERS AGREEMENT This policy is issued by your risk retention group. Your risk retention group may not

More information

THE CITY OF SEATTLE, WASHINGTON $258,665,000 (1) MUNICIPAL LIGHT AND POWER IMPROVEMENT AND REFUNDING REVENUE BONDS, 2014

THE CITY OF SEATTLE, WASHINGTON $258,665,000 (1) MUNICIPAL LIGHT AND POWER IMPROVEMENT AND REFUNDING REVENUE BONDS, 2014 SALE DATE: OCTOBER 22, 2014 SALE TIME: 8:00 A.M., PACIFIC TIME PRELIMINARY OFFICIAL STATEMENT DATED OCTOBER 13, 2014 This is a Preliminary Official Statement, subject to correction and change. The City

More information

M E M O R A N D U M EUGENE WATER & ELECTRIC BOARD

M E M O R A N D U M EUGENE WATER & ELECTRIC BOARD M E M O R A N D U M EUGENE WATER & ELECTRIC BOARD TO: Commissioners Mital, Simpson, Helgeson, Manning and Brown FROM: Sue Fahey, Finance Manager; Susan Eicher, Accounting & Treasury Supervisor DATE: August

More information

NOW, THEREFORE, BE IT RESOLVED BY THE ECONOMIC DEVELOPMENT AUTHORITY OF SPOTSYLVANIA COUNTY, VIRGINIA:

NOW, THEREFORE, BE IT RESOLVED BY THE ECONOMIC DEVELOPMENT AUTHORITY OF SPOTSYLVANIA COUNTY, VIRGINIA: RESOLUTION OF THE ECONOMIC DEVELOPMENT AUTHORITY OF THE COUNTY OF SPOTSYLVANIA APPROVING THE ISSUANCE OF PUBLIC FACILITY REVENUE AND REFUNDING BONDS FOR SPOTSYLVANIA COUNTY, VIRGINIA WHEREAS, the Economic

More information

Chapter 25 Utah Residential Rehabilitation Act

Chapter 25 Utah Residential Rehabilitation Act Chapter 25 Utah Residential Rehabilitation Act 11-25-1 Short title. This act shall be known and may be cited as the "Utah Residential Rehabilitation Act." 11-25-2 Legislative findings -- Liberal construction.

More information

VILLAGE OF DOWNERS GROVE Report for the Village Council Meeting

VILLAGE OF DOWNERS GROVE Report for the Village Council Meeting ORD 2015-6093 Page 1 of 48 ITEM ORD 2015-6093 VILLAGE OF DOWNERS GROVE Report for the Village Council Meeting 3/3/2015 SUBJECT: Parameters Ordinance SUBMITTED BY: Judy Buttny Finance Director SYNOPSIS

More information

$38,125,000* CITY OF TAMPA, FLORIDA NON-AD VALOREM REFUNDING REVENUE BONDS, SERIES 2015 OFFICIAL NOTICE OF SALE

$38,125,000* CITY OF TAMPA, FLORIDA NON-AD VALOREM REFUNDING REVENUE BONDS, SERIES 2015 OFFICIAL NOTICE OF SALE $38,125,000* CITY OF TAMPA, FLORIDA NON-AD VALOREM REFUNDING REVENUE BONDS, SERIES 2015 OFFICIAL NOTICE OF SALE The City of Tampa, Florida Non-Ad Valorem Refunding Revenue Bonds, Series 2015 (the "Series

More information

CONTRACT FOR ASSESSMENT AND COLLECTION BETWEEN DALLAS COUNTY, TEXAS AND THE TOWN OF ADDISON

CONTRACT FOR ASSESSMENT AND COLLECTION BETWEEN DALLAS COUNTY, TEXAS AND THE TOWN OF ADDISON CONTRACT FOR ASSESSMENT AND COLLECTION BETWEEN DALLAS COUNTY, TEXAS AND THE TOWN OF ADDISON PURPOSE: This Contract for Assessment and Collection ( Contract ) is between Dallas County, Texas ( County ),

More information

STOCK PURCHASE AGREEMENT

STOCK PURCHASE AGREEMENT STOCK PURCHASE AGREEMENT This Stock Purchase Agreement (this Agreement ) is made as of, 2015, by and between Histogen Inc., a Delaware corporation (the Company ), and (hereinafter referred to as the Investor

More information

THIRD AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF DYNEGY INC. Pursuant to Section 303 of the Delaware General Corporation Law

THIRD AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF DYNEGY INC. Pursuant to Section 303 of the Delaware General Corporation Law THIRD AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF DYNEGY INC. Pursuant to Section 303 of the Delaware General Corporation Law Dynegy Inc., a corporation duly organized and validly existing under

More information

LLC Operating Agreement With Corporate Structure (Delaware)

LLC Operating Agreement With Corporate Structure (Delaware) LLC Operating Agreement With Corporate Structure (Delaware) Document 1080B www.leaplaw.com Access to this document and the LeapLaw web site is provided with the understanding that neither LeapLaw Inc.

More information

STATE OF NEW MEXICO ) COUNTY OF GRANT TOWN OF SILVER CITY )

STATE OF NEW MEXICO ) COUNTY OF GRANT TOWN OF SILVER CITY ) STATE OF NEW MEXICO ) COUNTY OF GRANT ) ss. TOWN OF SILVER CITY ) The Town Council (the Council ) of the Town of Silver City (the Town ), in the State of New Mexico, met in open regular session in full

More information

Virginia State University Policies Manual. Title: Debt Management Guidelines and Procedures Policy: 1500

Virginia State University Policies Manual. Title: Debt Management Guidelines and Procedures Policy: 1500 Purpose a. To provide guidance to Virginia State University in undertaking long-term debt obligations benefiting the University. b. To provide a structured framework for the issuance of long-term debt

More information

[LOGO] ROGERS COMMUNICATIONS INC. DIVIDEND REINVESTMENT PLAN. November 1, 2010

[LOGO] ROGERS COMMUNICATIONS INC. DIVIDEND REINVESTMENT PLAN. November 1, 2010 [LOGO] ROGERS COMMUNICATIONS INC. DIVIDEND REINVESTMENT PLAN November 1, 2010 Rogers Communications Inc. Dividend Reinvestment Plan Table of Contents SUMMARY... 3 DEFINITIONS... 4 ELIGIBILITY... 6 ENROLLMENT...

More information

BUFFALO MUNICIPAL WATER FINANCE AUTHORITY $46,655,000 Water System Revenue Refunding Bonds, Series 2015-A

BUFFALO MUNICIPAL WATER FINANCE AUTHORITY $46,655,000 Water System Revenue Refunding Bonds, Series 2015-A NEW ISSUE Book-Entry-Only RATINGS: (See Ratings herein) In the opinion of Underberg & Kessler LLP, Bond Counsel, under existing statutes and court decisions and assuming continuing compliance by the Authority

More information

SIXTEENTH SUPPLEMENTAL INDENTURE OF TRUST. Dated as of December 1, 2014 BETWEEN SOUTH DAKOTA HEALTH AND EDUCATIONAL FACILITIES AUTHORITY AND

SIXTEENTH SUPPLEMENTAL INDENTURE OF TRUST. Dated as of December 1, 2014 BETWEEN SOUTH DAKOTA HEALTH AND EDUCATIONAL FACILITIES AUTHORITY AND Draft of 11/3//2014 SIXTEENTH SUPPLEMENTAL INDENTURE OF TRUST Dated as of December 1, 2014 BETWEEN SOUTH DAKOTA HEALTH AND EDUCATIONAL FACILITIES AUTHORITY AND THE FIRST NATIONAL BANK IN SIOUX FALLS As

More information