Arizona Power Authority


CUSIP 040627DX6
  • Issue Currency: United States of America Dollars
  • Announcement Date: 27-Jun-2017
  • News: Moody`s Investors Service has upgraded the Arizona Power Authority (APA or authority) revenue bond ratings to Aa1 from Aa2. As of FY16, APA had approximately $38.7 million of parity Series 2001 and Series 2014 revenue bonds outstanding. The rating outlook is stable. For Bond Document please visit www.BondPDF.com
CUSIP 040627DW8
  • Issue Currency: United States of America Dollars
  • Announcement Date: 31-Jul-2017
  • News: Moody`s Investors Service has upgraded the Arizona Power Authority (APA or authority) revenue bond ratings to Aa1 from Aa2. As of FY16, APA had approximately $38.7 million of parity Series 2001 and Series 2014 revenue bonds outstanding. The rating outlook is stable. For Bond Document please visit www.BondPDF.com
CUSIP 040627DX6
  • Issue Currency: United States of America Dollars
  • Announcement Date: 20-Jun-2018
  • News: The Arizona Power Authority (the ""Authority"") currently prepares two audits each year. One to comply with its Continuing Disclosure Agreement and the other to comply with State law. To eliminate the need for two audits, the Authority is amending the definition of Fiscal Year contained in its Continuing Disclosure Agreement from a Fiscal Year ending September 30 to a Fiscal Year ending June 30. A fiscal year ending June 30 is the State law requirement. The enclosed Amendment No. 1 effectuates the change in said definition of Fiscal Year This Amendment No. 1, dated as of May 1, 2018 (the ""Amendment""), to the Continuing Disclosure Agreement, dated as of March 1, 2014 (the ""Original Agreement""), between the Arizona Power Authority (the ""Issuer"") and The Bank of New York Mellon Trust Company, N.A., as Dissemination Agent (the ""Dissemination Agent""). RECITALS 1. The Issuer is required by the laws of the State of Arizona (the ""State"") to have an annual audit for the fiscal year ending June 30. The Original Agreement requires that the Issuer provide an. audit for a Fiscal Year ending September 30, which has resulted in the Issuer providing for two audits every year. 2. Because the annual audit obtained by the Issuer to comply with State law also meets the audit requirements of the Original Agreement, the Issuer has requested to amend the definition of Fiscal Year contained in the Original Agreement to match the requirements of State law in order to avoid an unnecessary expenditure of funds each year. 3. Section 7 of the Original Agreement allows the Original Agreement to be amended upon receipt of an opinion of Bond Counsel which opinion is attached hereto. The Issuer and the Dissemination Agent agree as follows: Section 1. The definition of Fiscal Year contained in Section 1 of the Original Agreement is amended to read as follows: ""Fiscal Year"" means (i) with respect to the Issuer, the 12-month period beginning on July 1 and ending on June 30, and (ii) with respect to CAWCD, the 12-month period beginning on January 1 and ending on December 31, or any other 12-month period selected by the Issuer or CAWCD as the Fiscal Year of the Issuer or CAWCD for financial reporting purposes. Section 2. Except as amended by this Amendment No. 1, the Original Agreement shall remain in full force and effect. IN WITNESS WHEREOF, the Issuer and the Dissemination Agent have caused this Amendment No. 1 to be executed as of the day and year first above written.



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