CUSIP 5462792B5
- ISIN: US5462792B53
- Entity Name: Louisiana Local Government Environmental Facilities and Community Development Authority
- Sector: Municipal Agency
- Announcement Date: *****
- Effective Date: *****
- Issue Date: *****
- Maturity Date: *****
- Country of Issuer: *****
- Region: N.Amer
- Issue Currency: *****
- CA Type: Final Settlement
- News: The purpose of this notice is to advise that UMB Bank, N.A. (the Trustee), completed a foreclosure on the collateral for the above-referenced Bonds (consisting of five condominium units which were available for retail commercial activities (the Collateral), and has sold the Collateral. The Trustee is distributing the proceeds of sale of the Collateral. Under Section 8.5(b) of that certain Trust Indenture dated as of December 1, 2007, between the Louisiana Local Government Environmental Facilities and Community Development Authority as issuer and the Trustees predecessor, pursuant to which the abovereferenced bonds (the Bonds) were issued, funds which come into the trust estate after acceleration are to be paid first the Series 2007A Bonds (CUSIP number 5462792B5) until they are paid in full before any amount is distributed to the Series 2007B Bonds (CUSIP number 5462792C3). The proceeds of sale are insufficient to pay the Series 2007A Bonds in full. Therefore, no amount will be distributed on the Series 2007B Bonds. Immediately following the distribution on the Series 2007A Bonds, the Series 2007B Bonds will be cancelled. The proceeds of sale available for distribution are in the amount of $471,000.00 after payment of brokerage fees and commissions, real estate taxes due, attorneys fees, and trustees fees and charges (the Net Proceeds). The principal outstanding on the Series 2007A Bonds is in the amount of $3,915,000. Interest accrued and unpaid on the Series 2007A Bonds since the 1 No representation is made as to the correctness of the CUSIP Numbers which are included solely for the convenience of the holders of the Bonds. Holders of Louisiana Local Government Environmental Facilities Bonds (Southgate Suites) June 19, 2018 Page 2 last payment of interest (by the Trustees predecessor) on June 15, 2010, is in the amount of $1,881,810. The Net Proceeds have been allocated as follows: CUSIP PRINCIPAL PAID ACCRUED INTEREST PAID PRINCIPAL PER $1000 INTEREST PER $1000 5462792B5 $318,099.95 $152,900.05 $81.25158492 $39.054928 This will be the last distribution on the Series 2007A Bonds. The 2007A Bonds will be cancelled. The holders of the Bonds do not need to take any further steps with respect to the Bonds, which will be cancelled electronically on their behalf. If you have any questions concerning your Bonds or appointment of the Successor Trustee, please contact the Successor Trustee at the following address: UMB Bank, N.A. 120 Sixth Street South, Suite 1400 Minneapolis, Minnesota 55402 Virginia Anne Housum Email: Virginia.Housum@umb.com Telephone: (612) 337-7003 Bondholders should not rely solely on the Successor Trustee as their sole source of information. The Successor Trustee makes no recommendations and gives no investment or tax advice herein or as to the Bonds generally.
- Description: *****
- Bond Document: https://www.bondpdf.com/
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US5462792B53
