CUSIP 551803CA5


  • ISIN: US551803CA56
  • Entity Name: Lynwood Utility Authority
  • Sector: Municipal Agency
  • Announcement Date: *****
  • Effective Date: *****
  • Issue Date: *****
  • Maturity Date: *****
  • Country of Issuer: *****
  • Region: N.Amer
  • Issue Currency: *****
  • CA Type: Covenant Breach
  • News: Each of the Indentures executed in connection with the Series 2008 A Bonds and Series 2009 A Bonds contains a covenant of the Authority to ensure in each Fiscal Year that Net Revenues of the Enterprise are at least equal to one hundred twenty-five percent (125%) of the total debt service payments on the aggregate Series 2008 A Bonds and Series 2009 A Bonds, and on any Parity Obligations, then-coming due and payable in such Fiscal Year (such payments, Annual Debt Service). As a result of the Governor`s declaration of a drought and the requirement to cut water usage, the currently unaudited Net Revenues in the Authoritys 2015-16 Fiscal Year are expected to be lower than 125% of Annual Debt Service. This statement will be re-evaluated upon completion of the Citys Annual Audit.
  • Description: *****
  • Bond Document: https://www.bondpdf.com/
  • Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US551803CA56

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