CUSIP 594698KV3

  • ISIN: US594698KV34
  • Entity Name: Michigan Strategic Fund
  • Sector: Municipal Agency
  • Announcement Date: *****
  • Effective Date: *****
  • Issue Date: *****
  • Maturity Date: *****
  • Country of Issuer: *****
  • Region: N.Amer
  • Issue Currency: *****
  • CA Type: Amendment of Indenture
  • News: NOTICE IS HEREBY GIVEN that, pursuant to the applicable provisions of the Bond Indenture, Section 1301(a)(vii), of the above captioned Bonds (the Bonds), the Trustee has been asked to consent to the First Amendment to Loan Agreement to be executed on or about 30 days after this notice but effective as of March 1, 2018 between the Michigan Strategic Fund (the Issuer) and Evangelical Homes of Michigan, a Michigan nonprofit corporation (the Corporation). The amendment states that effective March 1, 2018, the Corporation received not more than $3,725,000 disposition proceeds (the Disposition Proceeds) from the sale of certain assets financed or refinanced with the proceeds of the Series 2013 Bonds that were part of the sale of the Corporations skilled nursing facility in Sterling Heights, Michigan. The Corporation is requesting that the Issuer permit such Disposition Proceeds to be expended by the Corporation to equip, furnish, renovate and improve new projects at its assisted living, skilled nursing, adult day care and rehabilitation facilities located in Saline, Michigan to be completed by March 1, 2020. The Corporation, pursuant to Treasury Regulations, intends that the Disposition Proceeds be treated as proceeds of reissued Series 2013 Bonds and be subject to the same terms and conditions set forth in the Bond Indenture, Loan Agreement and any other documents related to the Series Bonds. A copy of the First Amendment to Loan Agreement is attached.
  • Description: *****
  • Bond Document:
  • Latest Corporate Actions:

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