CUSIP 975574AM6

  • ISIN: US975574AM60
  • Entity Name: City of Winsted
  • Sector: Municipal
  • Announcement Date: 20-Jun-2018
  • Effective Date: *****
  • Issue Date: *****
  • Maturity Date: 01-Sep-2025
  • Country of Issuer: United States
  • Region: N.Amer
  • Issue Currency: United States of America Dollars
  • CA Type: Partial Payment
  • News: THIS NOTICE CONTAINS IMPORTANT INFORMATION THAT IS OF INTEREST TO THE REGISTERED AND BENEFICIAL OWNERS OF THE ABOVE BONDS. IF YOU RECEIVE THIS NOTICE AND ARE ACTING FOR A BENEFICIAL OWNER, PLEASE SEND THIS NOTICE TO THE BENEFICIAL OWNER(S) IMMEDIATELY. UMB Bank, N.A. (the Trustee), acts as trustee under that certain Indenture of Trust, dated as of September 1, 2010 (the Indenture), between the Prior Trustee and the City of Winsted, Minnesota (referred to herein as Issuer). The Bonds were issued under the Indenture. The proceeds of the Bonds were loaned by the Issuer to Living Services Foundation/Winsted LLC, a Minnesota nonprofit corporation (referred to herein the Borrower or LSF) pursuant to a Loan Agreement also dated as of September 1, 2010 (the Loan Agreement), and used to finance the expansion of a health care facility in Winsted, Minnesota, known as St. Marys Care Center (the Facility) owned by LSF. LSF was placed in Holders of Winsted, Minnesota (St. Marys Care Center) Bonds June 20, 2018 Page 2 receivership by the District Court in McLeod County, Minnesota, in August, 2016. The Facility includes a small clinic at the north end of the building housing the main Facility (the Ridgeview Clinic). The Trustee previously gave notice in November, 2017, that the receiver appointed by the Court (the Receiver) had negotiated sales of the Ridgeview Clinic (the Clinic) and the main nursing care facility (St. Marys). The sale of the Clinic closed on June 14, 2018. The Trustee received proceeds of sale of the Clinic in the amount of $2,206,766.51 (the Sales Proceeds). The Trustee has distributed the Sale Proceeds and additional amounts held in the Bond Fund created under the Indenture, in a distribution today of $3,200,000.00 (the Distribution Amount). As disclosed in a notice posted on June 8, 2018, the sale of St. Marys has been delayed by the purchaser of St. Marys. The Bonds have been accelerated, and under Section 7.04 of the Indenture, the payment of the Distribution Amount has been pro rated between principal and interest due on the Bonds. Total interest due as of todays date is $2,332,659.20. Total principal now due and payable, as a result of the acceleration, is in the amount of $15,845,000.00. The amount paid toward interest is in the amount of $410,642.00; the amount paid toward principal is in the amount of $2,789,358.00 to holders of record as of June 18, 2018. The amount of interest paid on each CUSIP of the Bonds and the per $1000 amount for each CUSIP is as follows: CUSIP Interest paid Interest per $1000 paid 975574AC8 $3,757.85 $25.91619 975574AL8 $3,887.43 $25.91619 975574AD6 $4,017.01 $25.91619 975574AS3 $4,146.59 $25.91619 975574AE4 $4,146.59 $25.91619 975574AT1 $4,276.17 $25.91619 975574AF1 $4,405.75 $25.91619 975574AU8 $4,535.33 $25.91619 975574AG9 $4,664.91 $25.91619 975574AM6 $54,683.16 $25.91619 975574AN4 $73,861.14 $25.91619 975574AP9 $78,266.89 $25.91619 975574AQ7 $165,993.18 $25.91619 Holders of Winsted, Minnesota (St. Marys Care Center) Bonds
  • Description: Municipal Name: City of Winsted CUSIP: 975574AM6 Currency: USD City of Winsted announced today that it has paid the partial interest payment in the amount of USD 54,683.16 for Series of 2010A, Health Care Revenue Bonds.
  • Bond Document:
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