CUSIP 686507EA8

  • ISIN: US686507EA81
  • Entity Name: Orlando Utilities Commission
  • Sector: Municipal Agency
  • Announcement Date: *****
  • Effective Date: *****
  • Issue Date: *****
  • Maturity Date: *****
  • Country of Issuer: *****
  • Region: N.Amer
  • Issue Currency: *****
  • CA Type: Liquidity Facility Substitution
  • News: Pursuant to Section 505 of the Series Resolution (the ""Series Resolution"") dated April 8, 2008 pertaining to the above captioned issue (the ""Bonds""), The Bank of New York Mellon Trust Company, N.A., as Payi_ng Agent (the ""Paying Agent""), hereby provides conditional notice that all of the Bonds issued by the Orlando Utilities Commission (the ""Issuer"") in the aggregate outstanding principal amount of $200,000,000 are subject to mandatory tender on April 4, 2017 (the ""Substitution Date"") at a price equal to 100% of the principal amount thereof (tl1e ""Mandatory Purchase Price""), together with interest accrued thereon to the Substitution Date, due to the delivery of a substitute Liquidity Facility (the ""Substitute Liquidity Facility""). The Paying Agent hereby notifies the Holders of the Bonds, that the Issuer intends to deliver to the Paying Agent a Substitute Liquidity Facility meeting the requirements of Section 601 of the Series Resolution. The Substitute Liquidity Facility will consist of a standby bond purchase agreement between TD Bank, N.A., a national banking association (in such capacity, the ""Liquidity Provider""), and the Issuer that will become effective on April 4, 2017. The substitution will not become effective until receipt by the Paying Agent of the following: A Favorable Opinion of Bond Counsel (as defined in the Series Resolution). An opinion of counsel to the Liquidity Provider as to the validity and enforceability of the Substitute Liquidity Facility. A certificate of the Chief Financial Officer that all amounts due to the then existing Liquidity Facility Issuer have been paid or satisfactory arrangements have been made for the same to be paid.
  • Description: *****
  • Bond Document:
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