CUSIP 364542AC4

  • ISIN: US364542AC43
  • Entity Name: City of Galveston
  • Sector: Municipal
  • Announcement Date: 07-Mar-2017
  • Effective Date: 01-Mar-2017
  • Issue Date: *****
  • Maturity Date: 01-Sep-2044
  • Country of Issuer: United States
  • Region: N.Amer
  • Issue Currency: United States of America Dollars
  • CA Type: Unscheduled Draw
  • News: Event Notice Reserve Fund Draw: On March 1, 2017, an unscheduled draw of $28,800.00 was drawn from the Delinquency Reserve Account of the Reserve Fund and an unscheduled draw of $256,887.50 was drawn from the Reserve Account of the Reserve Fund to pay the March 1, 2017 debt service payment on the Bonds. The unscheduled draw of funds from the Delinquency Reserve Account and Reserve Account was required because of the failure to deposit or cause to be deposited into the Pledged Revenue Fund by February 20, 2017, Annual Installments of the Assessments levied against parcels within the Bayside at Watermans Public Improvement District to pay debt service on the Bonds constituting an Event of Default under the Indenture.
  • Description: Municipal Name: City of Galveston CUSIP: 364542AC4 Currency: USD City of Galveston today announced that the Trustee disbursed $256,887.50 from the Debt Service Reserve Fund for interest payment for the Bond Series 2014 on March 1, 2017.
  • Bond Document:
  • Latest Corporate Actions:

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