Addison Park District, DuPage County, Illinois
CUSIP *****
- Issue Currency: United States of America Dollars
- Announcement Date: 23-Nov-2016
- News: Issuer: Addison Park District, DuPage County, Illinois (the District) Issue: $1,233,000 General Obligation Limited Tax Park Bonds, Series 2016 (the Bonds) Purchaser: Schaumburg Bank & Trust Company N.A., Schaumburg, Illinois Maturity Schedule: $1,233,000 2.20% Term Bonds Maturing December 30, 2022; Price 100% Interest: Interest is computed on the basis of a 360-day year of twelve 30-day months, payable June 30 and December 30, commencing June 30, 2017. Closing Date: November 22, 2016 Denominations: $100,000 and integral multiples of $1,000 thereafter Tax Status: Federally tax-exempt. Interest on the Bonds is not exempt from present State of Illinois taxes. The District will designate the Bonds as ""qualified tax-exempt obligations."" Credit Rating: Not rated Redemption Provisions: Optional Redemption: The Bonds are not subject to optional redemption prior to maturity. Mandatory Redemption: The Bonds are subject to mandatory redemption in integral multiples of $1,000 selected by lot by the Registrar at a redemption price of par plus accrued interest on December 30 of the years and in the amounts as follows: December 30 Amount 2017 $27,000 *** *** 2021 803,000 2022 (maturity) 403,000 Purpose: Proceeds of the Bonds will be used (i) to finance the payment of debt service due December 1, 2016, on the Districts outstanding General Obligation Refunding Park Bonds (Alternate Revenue Source), Series 2010, dated May 27, 2010; (ii) for the payment of land condemned or purchased for parks, for the building, maintaining, improving and protecting of the same and the existing land and facilities of the District and (iii) for the payment of the expenses incident thereto. Authority: The Bonds are issued pursuant to the Park District Code of the State of Illinois, as amended (the Park Code), and the Local Government Debt Reform Act of the State of Illinois, as amended (the Act), and are authorized by an ordinance adopted by the Board of Park Commissioners of the District on November 14, 2016 (the Bond Ordinance).
- Issue Currency: United States of America Dollars
- Announcement Date: 27-Jan-2017
- News: NOTICE IS HEREBY GIVEN that the rating on the Addison Park District, DuPage County, Illinois, general obligation debt for the above CUSIP numbers has been downgraded to A2 (no outlook), by Moodys Investors Service effective January 25, 2017. For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 27-Jan-2017
- News: NOTICE IS HEREBY GIVEN that the rating on the Addison Park District, DuPage County, Illinois, general obligation debt for the above CUSIP numbers has been downgraded to A2 (no outlook), by Moodys Investors Service effective January 25, 2017. For Bond Document please visit www.BondPDF.com
