CUSIP 64542RDH1
- ISIN: US64542RDH12
- Entity Name: New Hope Cultural Education Facilities Finance Corporation
- Sector: Municipal Agency
- Announcement Date: 11-Jan-2018
- Effective Date: 23-Jan-2018
- Issue Date: *****
- Maturity Date: 01-Jul-2035
- Country of Issuer: United States
- Region: N.Amer
- Issue Currency: United States of America Dollars
- CA Type: Trustee Change
- News: The Bonds were previously issued and outstanding pursuant to a Trust Indenture dated as of July 24, 2015 (the Indenture) between New Hope Cultural Education Facilities Finance Corporation (the Issuer) and Regions Bank (""Prior Trustee""). Capitalized terms not otherwise defined herein shall have the meanings given to them in the Indenture. The proceeds of the Bonds were loaned by the Issuer to NCCD-College Station Properties, LLC (the Borrower) to provide for the development, construction finishing and equipping of a 3,402 bed student housing facility (the ""2015 Project""), pay certain operating costs, fund a pro rata portion of the debt service reserve fund, pay costs of issuance of the 2015A Bonds and interest during the development of the 2015 Project and to fund interest on the 2015B Bonds during construction, to fund a pro rata portion of the debt service reserve fund and to pay costs of issuance of the 2015B Bonds. The Holders of more than 50% in principal amount of the Bonds (Majority Holders), sent a Notice of Removal and Appointment dated December 8, 2017, pursuant to Section 1107 of the Indenture removing the Prior Trustee as Trustee, Paying Agent and Registrar under the Indenture (Notice of Removal). The Majority Holders also appointed UMB Bank, National Association (UMB or the Successor Trustee) as successor trustee under the same document. Under the terms of the Indenture, the removal and appointment became effective 30 days following the delivery of the Notice of Removal to the Prior Trustee.
- Description: Municipal Name: New Hope Cultural Education Facilities Finance Corporation CUSIP: 64542RDH1 Currency: USD New Hope Cultural Education Facilities Finance Corporation today announced the appointment of UMB Bank, n.a. as successor trustee relating to its Series 2015A Student Housing Revenue Bonds effective on January 23, 2018.
- Bond Document: https://www.bondpdf.com/
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US64542RDH12
