CUSIP 423551EU0

  • ISIN: US423551EU07
  • Entity Name: Hemet Unified School District
  • Sector: Municipal Agency
  • Announcement Date: *****
  • Effective Date: *****
  • Issue Date: *****
  • Maturity Date: *****
  • Country of Issuer: *****
  • Region: N.Amer
  • Issue Currency: *****
  • CA Type: Offer Repurchase
  • News: NOTICE IS HEREBY GIVEN to the holders of the above indicated certificates of participation (the Certificates) that on October 3, 2016 (the Mandatory Tender Date), pursuant to the mandatory tender provision of Section 3.01(d)(iii) of the Amended and Restated Trust Agreement dated as of December 1, 2008 and the First Supplement to Amended and Restated Trust Agreement Dated as of September 1, 2011 (collectively, the Trust Agreement), both by and among Hemet Unified School District School Facilities Corporation (the Corporation), Hemet Unified School District (the District), and U.S. Bank National Association (the Trustee), the entire outstanding principal amount of the Certificates will be subject to mandatory tender on the Mandatory Tender Date due to the expiration of the current SIFMA-Based Interest Rate Period on October 2, 2016. October 3, 2016 shall be the first day of the new SIFMA-Based Interest Rate Period. Terms not defined herein shall have the meanings ascribed to them in the Trust Agreement. 1) Certificates shall be purchased on the Mandatory Tender Date at a Purchase Price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to such date. 2) The Owners do not have the right to retain their Certificates. The Certificates shall be deemed tendered on the Mandatory Tender Date, whether or not tendered by the Owner. If there are sufficient remarketing proceeds on deposit with the Trustee to pay the Purchase Price, the Certificates shall be deemed purchased on the Mandatory Tender Date and no further interest shall accrue with respect thereto, and, thereafter, the Owner shall have no further rights under the Trust Agreement except to receive such Purchase Price. If the remarketing proceeds available on the Mandatory Tender Date shall be less than the amount required to pay all of the Purchase Price, then the existing SIFMA-Based Interest Rate Period shall be extended, the Owners shall continue to hold the Certificates and the SIFMA-Based Interest Rate shall be the Maximum Rate until sufficient amounts are on deposit with the Trustee to pay the Purchase Price of the Certificates.
  • Description: *****
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