Central Falls Detention Facility Corporation


CUSIP 153457AX4
  • Issue Currency: United States of America Dollars
  • Announcement Date: 12-Jan-2017
  • News: As set forth in a prior notice to bondholders, as a result of various Events of Default under the Indenture, the Corporation does not have sufficient funds on hand from the Corporation to fund the January 17, 2017 debt service payment in full. The Trustee intends to make a partial, pro rata payment to bondholders on account of accrued interest in the aggregate amount of $1,039,591, or $10.684388 per $1,000. Due to the continuing Events of Default and inability to fund sufficient amounts to satisfy debt service payments, it is uncertain when, and to what extent, additional payments on debt service will be made under the Indenture.
CUSIP 153457AX4
  • Issue Currency: United States of America Dollars
  • Announcement Date: 08-Jun-2017
  • News: This notice is to inform you that on May 31, 2017, UMB Bank, National Association succeeded to U.S. Bank as trustee under the Indenture (Trustee). The Trustee anticipates communicating with bondholders from time to time in connection with matters relating to the Bonds and under the Indenture. If you would like to receive direct communications from the Trustee, please complete and return the enclosed Bondholder Verification Form. The Trustee will maintain a register of each bondholder that has filed with the Trustee a Bondholder Verification Form.
CUSIP 153457AX4
  • Issue Currency: United States of America Dollars
  • Announcement Date: 08-Jun-2017
  • News: As set forth in a prior notice, the Trustee and the Corporation are parties to a Forbearance Agreement, dated March 15, 2015, whereby the parties entered into a multiyear forbearance of the Trustees exercise of remedies under the Indenture, as well as governance and operational modifications, subject to the terms and conditions set forth therein. As a result of a detainee escape from the Donald W. Wyatt Detention Facility (the Facility) on December 31, 2016, the US Marshals Service (USMS) conducted an After-Action Review to evaluate the Facility and determine a risk assessment regarding the potential threat of another escape, the capability of the Corporation to maintain and secure the USMS detainees, and to develop a plan of action to reduce future escape risks. The plan of action outlined by the USMS required the Corporation to make capital improvements to the Facility, which the Corporation lacked sufficient funds to meet. In addition, the USMS reduced the number of detainees at the Corporation, which resulted in a material negative impact on the Corporations ability to meet ongoing operation and maintenance expenses. At the request of the Corporation, and at the direction of the Majority Owner, the Trustee entered into a Forbearance Amendment, dated May 3, 2017. A copy of the Forbearance Amendment is attached hereto as Exhibit A. Pursuant to the terms of the Forbearance Amendment, the Trustee may, at the direction of the Majority Owner, make available to the Corporation an aggregate amount of $899,000 from the Debt Service Reserve Fund under the Indenture to fund capital expenses and budgeted shortfall amounts, consistent with the terms and conditions of the Forbearance Amendment.



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