CUSIP 12355RAC0
- ISIN: US12355RAC07
- Entity Name: Butler County Port Authority
- Sector: Municipal Agency
- Announcement Date: 03-Jul-2017
- Effective Date: 26-Jun-2017
- Issue Date: *****
- Maturity Date: 01-Jul-2043
- Country of Issuer: United States
- Region: N.Amer
- Issue Currency: United States of America Dollars
- CA Type: Amendment of Indenture
- News: In connection with the 2017 Bond Transfer, MKC amended the Continuing Covenant Agreements with the holders of all the Series 2013B Bonds and Series 2013C Bonds, including the 2017 Bond Purchaser. Also, in connection with the 2017 Bond Transfer, certain sections of the Indenture of Trust (Bond Indenture) (the Bond Indenture) affecting the Series 2013B and Series 2013C Bonds were also amended. Among other things, such amendments to the Continuing Covenant Agreements and Bond Indenture changed the interest rate on the Series 2013B Bonds and 2013C Bonds, extended the Initial Private Placement Rate Period until July 31, 2023, changed the required Debt Service Coverage Ratio to not less than 1:20 to 1:00 and changed the Days Cash on Hand requirement to not less than 100 days. A copy of the First Amendment to Indenture of Trust (Bond Indenture) is attached as Exhibit A. Effective June 29, 2017, pursuant to the consent and direction of holders of more than a majority in aggregate principal amount of the Obligations Outstanding under the Master Trust Indenture as described in the 2013 Official Statement, the Master Trustee and MKC amended the Master Trust Indenture to, among other things, change the Days Cash on Hand requirement to at least 120 days. A copy of the Eleventh Supplemental Trust Indenture effecting such change is attached as Exhibit B.
- Description: Municipal Name: Butler County Port Authority CUSIP: 12355RAC0 Currency: USD Butler County Port Authority today announced that it has amended interest rate, extended the initial private placement rate period, changed the required debt service coverage ratio and changed the days cash on hand requirement of its Economic Development Facilities Refunding Revenue Bonds, Series 2013A effective on June 26, 2017.
- Bond Document: https://www.bondpdf.com/
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US12355RAC07
