City of Winthrop
CUSIP 976367NT5
- Issue Currency: United States of America Dollars
- Announcement Date: 21-Aug-2018
- News: The RS Fiber Cooperative failed to make the August 15, 2018 loan payment and a Notice of Shortfall has been provided to the Member Cities so that property tax levies can be implemented in the event there is a draw on the debt service reserve fund. U.S. Bank made notification of this late loan payment on August 20, 2018.
- Issue Currency: United States of America Dollars
- Announcement Date: 01-Feb-2019
- News: U.S. Bank National Association in its role as Trustee for the City of Winthrop, MN General Obligation Tax Abatement Bonds, Series 2015 (RS Fiber Project) (the Bonds) has made a draw of $293,984.40 from the debt service reserve fund for the purpose of making the February 1, 2019 principal and interest payment on the Bonds. On August 6, 2018 a Notice of Projected Shortfall (copy attached) was sent to the member cities which provided those cities with the opportunity to incorporate the projected shortfalls into their 2019 budgets for the purpose of replenishing the debt service reserve. The Trustee has sent notice to the member cities of the shortfall and their obligation to replenish the debt service reserve. The shortfall was a result of the RS Fiber Cooperatives suspension of monthly loan payments. For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 01-Feb-2019
- News: U.S. Bank National Association in its role as Trustee for the City of Winthrop, MN General Obligation Tax Abatement Bonds, Series 2015 (RS Fiber Project) (the Bonds) has made a draw of $293,984.40 from the debt service reserve fund for the purpose of making the February 1, 2019 principal and interest payment on the Bonds. On August 6, 2018 a Notice of Projected Shortfall (copy attached) was sent to the member cities which provided those cities with the opportunity to incorporate the projected shortfalls into their 2019 budgets for the purpose of replenishing the debt service reserve. The Trustee has sent notice to the member cities of the shortfall and their obligation to replenish the debt service reserve. The shortfall was a result of the RS Fiber Cooperatives suspension of monthly loan payments. For Bond Document please visit www.BondPDF.com
