CUSIP 786191CP9
- ISIN: US786191CP93
- Entity Name: City of Sacred Heart, Minnesota
- Sector: Municipal
- Announcement Date: 09-Jun-2017
- Effective Date: 05-Jun-2017
- Issue Date: 05-Jun-2017
- Maturity Date: 01-Jun-2020
- Country of Issuer: United States
- Region: N.Amer
- Issue Currency: United States of America Dollars
- CA Type: New Bond
- News: The Notes are issued pursuant to Minnesota Statutes, Chapters 444 and 475 to provide temporary financing for design and preliminary engineering costs associated with an $8 million utility repair and replacement project to be undertaken in 2018. The Notes will be General Obligations of the City for which the City pledges its full faith and credit and power to levy direct general ad valorem taxes. The City of Sacred Heart (the City) will pledge ad valorem taxes and revenues from the City utilities. Permanent financing will be provided by a $2 million Rural Development Loan (committed), a $1 million state loan through PFA (in process) and a $1.6 million of state-guaranteed conventional debt. The balance of costs will be funded with grants. AWARD: May 22, 2017; Award 7:00 P.M. Central. DATED DATE: June 5, 2017 INTEREST RATE: 2.55% INTEREST PAYMENT: December 1, 2017, and each June 1 and December 1 thereafter MATURITY: The Notes will mature in installments on June 1 in the years and amounts as follows: Year Amount 2020 $ 830,000 CALL DATE: Callable in whole only on any date at par plus accrued interest PURCHASER: Northview Bank, Finlayson, MN PURCHASE PRICE $830,000.00 (Par) TAX STATUS: Tax-exempt, bank-qualified CLOSING/ DELIVERY DATE: On or about June 5, 2017.
- Description: City of Sacred Heart, Minnesota has issued USD 830M, 2.55% fixed rate bond due 01-Jun-2020. www.BondPDF.com
- Bond Document: https://www.bondpdf.com/
- Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US786191CP93
