City of Gainesville, Florida
CUSIP 362848PU1
- Issue Currency: United States of America Dollars
- Announcement Date: 12-Jan-2015
- News: Municipal Name: City of Gainesville, Florida CUSIP: 362848PU1 Defeased Principal Amount: USD 330M Refunding Date: October 1, 2015 For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 09-Jun-2017
- News: This STANDBY LETTER OF CREDIT AND REIMBURSEMENT AGREEMENT, dated as of January 1, 2015, between the CITY OF GAINESVILLE, FLORIDA, a municipal corporation duly organized and existing under the laws of the State of Florida and established under its Charter, Chapter 90-394, Laws of Florida, as amended (the Act) (including its successors and assigns, the City), and SUMITOMO MITSUI BANKING CORPORATION, ACTING THROUGH ITS NEW YORK BRANCH (including any successors and assigns, the Bank). WHEREAS, the City is authorized pursuant to the Act to own, manage and operate the System (as defined in the Bond Resolution referred to in Section 1.1(b) hereof); and WHEREAS, pursuant to the provisions of the Supplemental Resolution (as hereinafter defined in Section 1.1(b) hereof), the City issued its Variable Rate Utilities System Revenue Bonds, 2012 Series B in an aggregate principal amount of $100,470,000 (the Bonds), all of which Bonds remain Outstanding (as defined in the Bond Resolution), in order to provide funds to refund certain of the Citys Outstanding Utilities System Revenue Bonds; and WHEREAS, to provide continued support for the payment of the Purchase Price of the Bonds, the Bank has agreed to replace the liquidity facility entered into by the City and JPMorgan Chase Bank, N.A. (the Prior Liquidity Facility) with a standby letter of credit (as amended and extended from time to time, the Letter of Credit) issued for the credit of the City in favor of the Tender Agent (as hereinafter defined in Section 1.1(b) hereof) for the benefit of the holders of the Bonds; and WHEREAS, in reliance upon the provisions thereof and hereof, the Bank and the City are willing to enter into this Agreement and, subject to the terms hereof, the Bank will deliver its Letter of Credit.
- Issue Currency: United States of America Dollars
- Announcement Date: 28-Jun-2017
- News: In accordance with Section 3.08(2) of the Twenty-Fifth Supplemental Utilities System Revenue Bond Resolution adopted by the City of Gainesville, Florida (the ""City"") on June 21, 2012 (the ""Supplemental Resolution""), which authorized the issuance of the Citys Variable Rate Utilities System Revenue Bonds, 2012 Series B (the ""Bonds""), U.S. Bank National Association, as tender agent (the ""Tender Agent""), on behalf of the City, hereby notifies all Holders of the Bonds of the following: 1. The City has obtained a ""Substitute Liquidity Facility"" (as defined in the Supplemental Resolution) for the Bonds in substitution for the standby bond purchase agreement between the City and Sumitomo Mitsui Banking Corporation, acting through its New York Branch currently in effect with respect to the Bonds. As a result, the Bonds are subject to mandatory tender for purchase on June 29, 2017 (the ""Purchase Date""). 2. Each Bond (or portion thereof) not tendered for purchase by 12:00 p.m., New York City time, on the Purchase Date shall be deemed to have been tendered for purchase on the Purchase Date at the Purchase Price therefor (which shall be equal to the principal amount thereof), and, if due provision is made for the payment of such Purchase Price on the Purchase Date, the Holder thereof shall not be entitled to any payment (including any interest accrued subsequent thereto) in respect of such Bond (or portion thereof) other than the Purchase Price for such Bond (or portion thereof) and accrued interest thereon to the Purchase Date.
