CUSIP 644804CF1


  • ISIN: US644804CF12
  • Entity Name: County of New Hanover
  • Sector: Municipal
  • Announcement Date: *****
  • Effective Date: *****
  • Issue Date: *****
  • Maturity Date: *****
  • Country of Issuer: *****
  • Region: N.Amer
  • Issue Currency: *****
  • CA Type: Amendment of Indenture
  • News: WHEREAS, the County has issued its $20,000,000 Variable Rate Hospital Revenue Bonds (New Hanover Regional Medical Center Project), Series 2008A and its $20,000,000 Variable Rate Hospital Revenue Bonds (New Hanover Regional Medical Center Project), Series 2008B (collectively, the ""Bonds""); and WHEREAS, the Bonds were issued under a Series Resolution adopted by the Board of Commissioners for the County on October 20, 2008 (the ""Series Resolution""); and WHEREAS, in order to provide security for the payment when due of the principal of, and interest on, the Bonds, pursuant to a Letter of Credit and Reimbursement Agreement, dated as of October 1, 2008 (the ""Original Reimbursement Agreement""), RBC Bank (USA) (as predecessor in interest to the Bank) issued its irrevocable letter of credit no. SB004729 (the ""Letter of Credit""), naming First-Citizens Bank &Trust Company (succeeded by LJ.S. Bank National Association), as trustee for the Bonds (the ""Trustee""), as beneficiary, in the amount of $40,460,274 (the ""Commitment""), of which (a) $40,000,000 supported the payment of principal or portion of the purchase price corresponding to principal of the Bonds and (b) $460,274 supported the payment of up to 35 days of interest or portion of the purchase price corresponding to interest on the Bonds, at an assumed interest rate of 12%per annum (computed on the basis of actual days elapsed in a 365- or 366-day year, as the case may be); and WHEREAS, the current outstanding principal amount of the Bonds is $32,520,000 and the current amount of the Commitment is $32,894,203; and WHEREAS, the County, the Corporation and RBC Bank (USA) (as predecessor in interest to the Bank) entered into a First Amendment to Letter of Credit and Reimbursement Agreement, dated as of September 1, 2011 (the ""First Amendment""), pursuant to which the Bank agreed to modify the Scheduled Expiration Date for the Letter of Credit and to modify the Fee Percentage; and WHEREAS, the County, the Corporation and the Bank entered into a Second Amendment to Letter of Credit and Reimbursement Agreement, dated as of January 30, 2013 (the ""Second Amendment""), pursuant to which the Bank agreed to delete certain provisions in the Existing Reimbursement Agreement;
  • Description: *****
  • Bond Document: https://www.bondpdf.com/
  • Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US644804CF12

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