CUSIP 962139BM2


  • ISIN: US962139BM24
  • Entity Name: City of Weyauwega
  • Sector: Municipal
  • Announcement Date: *****
  • Effective Date: *****
  • Issue Date: *****
  • Maturity Date: *****
  • Country of Issuer: *****
  • Region: N.Amer
  • Issue Currency: *****
  • CA Type: Covenant Breach
  • News: The City of Weyauwega, Waupaca County, Wisconsin (the City), is providing this notice to the bond holders of obligations described as Base CUSIP 962139, issued for the purpose of refunding obligations of the City that were issued for the purpose of paying the cost of improvements and extensions to the Water System. Non-payment Related Defaults The Series 2011 Water System Refunding Revenue Bonds were issued and are payable from the income and revenues of the Water System. In the Refunding Revenue Bond Resolution, the City covenanted as follows: The City covenants to establish, charge and collect such lawfully established rates and charges for the services provided by the Water System so that net revenues (i.e. gross revenues less all costs of operation and maintenance, exclusive of debt service, depreciation, or local tax equivalents) will be at least 1.20 times the amount of principal and interest coming due on all outstanding bonds payable from the income and revenues of the Water System each year. Net Revenues calculation, based on the Citys 2015 audited financial statements, is 94%, which is less than the 120% required under the covenant in the Refunding Revenue Bond Resolution. For Bond Document please visit www.BondPDF.com
  • Description: *****
  • Bond Document: https://www.bondpdf.com/
  • Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US962139BM24

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