CUSIP 095461AD1
- ISIN: US095461AD15
- Entity Name: City of Blue Earth, Minnesota
- Sector: Municipal
- Announcement Date: 13-Dec-2016
- Effective Date: 01-Dec-2016
- Issue Date: *****
- Maturity Date: 01-Dec-2021
- Country of Issuer: United States
- Region: N.Amer
- Issue Currency: United States of America Dollars
- CA Type: Unscheduled Draw
- News: You are hereby advised that the Trustee recently made a draw on the Debt Service Reserve Fund established under the Indenture in the amount of $9,659.16 in order to make the December 1, 2016 Interest Payment. After making the December 1, 2016 Interest Payment, there is $67,923.79 in the Debt Service Reserve Fund. Based on declining Project Revenues, the Trustee cannot guarantee that Holders will receive the next scheduled interest payment. The Trustee is currently considering its options on how to maximize recovery on behalf of the Bondholders, including a potential exercise of remedies or a meeting with members of the Issuer, Land Owner and Company. You will be advised of potential strategies and options in a further notice from the Trustee. Under the Indenture, Holders of at least a majority of the aggregate principal amount of Outstanding Bonds have the right to direct certain of the Trustees actions under and subject to the conditions contained in the Indenture, which include (among other things) providing the Trustee with an indemnity against liability satisfactory to the Trustee. As of the date of this notice, the Trustee has not received any direction from Holders. For Bond Document please visit www.BondPDF.com
- Description: Municipal Name: City of Blue Earth, Minnesota CUSIP: 095461AD1 Currency: USD City of Blue Earth, Minnesota announced today that it has withdrawn in the amount of USD 9,659.16 from the Debt Service Reserve Fund in order to make the December 1, 2016 Interest Payment. for the Series 1999B Bonds.
- Bond Document: https://www.bondpdf.com/
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US095461AD15
