CUSIP 448672LV5
- ISIN: US448672LV57
- Entity Name: Hyde Park Central School District
- Sector: Municipal Agency
- Announcement Date: 28-Dec-2017
- Effective Date: 15-Dec-2017
- Issue Date: *****
- Maturity Date: 15-Jun-2026
- Country of Issuer: United States
- Region: N.Amer
- Issue Currency: United States of America Dollars
- CA Type: Coupon Default
- News: The interest payments due December 15, 2017 for the $970,000 School District (Serial) Bonds, 2008, $1,785,757 School District (Serial) Bonds, 2008, and $2,624,611 School District (Serial) Bonds, 2011 were made on December 15, 2017 to the Depository Trust Company (book-entry-only system) from the irrevocable escrow fund of U.S. Treasury Obligations for the bonds by the Escrow Agent, but were not allocated to the bond holders by the Depository Trust Company until December 18, 2017 due to a clerical error on the part of the Escrow Agent. The interest payment due December 15, 2017 for the $6,981,418 School District (Serial) Bonds, 2010 was made on December 15, 2017 to the Depository Trust Company (book-entryonly system) from the irrevocable escrow fund of U.S. Treasury Obligations for the bonds by the Escrow Agent, but were not allocated to the bond holders by the Depository Trust Company until January 3, 2018 due to a clerical error on the part of the Escrow Agent and a processing error on the part of the Depository Trust Company. The 2008, 2010 and 2011 bonds were economically defeased by $5,070,000 School District Refunding (Serial) Bonds, 2017. The 2008, 2010 and 2011 bonds are still outstanding obligations of the School District; however, pursuant to an escrow agreement between the School District and the Escrow Agent, the Escrow Agent is responsible for making all principal and interest payments thereon to the Depository Trust Company. There were no financial factors of the School District that contributed to the late allocation of funds.
- Description: Municipal Name: Hyde Park Central School District CUSIP: 448672LV5 Currency: USD Hyde Park Central School District announced today that it has not been paid the interest payment due to insufficient money on Revenue Fund for Series 2011 School District Bonds on December 15, 2017.
- Bond Document: https://www.bondpdf.com/
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US448672LV57
