Combined Consumers Special Utility District
CUSIP *****
- Issue Currency: *****
- Announcement Date: 08-Nov-2018
- News: This Notice is being provided by the Combined Consumer SUD, TX (the District), pursuant to the requirement of Rule 15c2-12 (the Rule) of the Securities Exchange Act of 1934, as notification of occurrence of the following material event as defined in paragraph (b)(5)(i)(C) of the Rule. In the Fiscal Years December 31, 2013 through December 31, 2017 the District made unscheduled draws on the debt service reserve fund. Detail of the draws is as follows: As of Fiscal Year Ended December 31, 2013, the Debt Service Reserve Fund was underfunded by $3,868. As of Fiscal Year Ended December 31, 2014, the Debt Service Reserve Fund was underfunded by $118,701. As of Fiscal Year Ended December 31, 2015, the Debt Service Reserve Fund was underfunded by $123,670. As of Fiscal Year Ended December 31, 2016, the Debt Service Reserve Fund was underfunded by $628. During the Fiscal Year, on April 19, 2016, the Revenue Refunding and Improvement Bonds, Series 2016 deposited $112,743.50 into the Debt Service Reserve Fund. As of Fiscal Year Ended December 31, 2017, the Debt Service Reserve Fund is sufficiently funded. In addition, the District failed to make a timely filing notifying bondholders of the past draws. The District failed to make a timely filing of certain updated financial information and annual operating data for the Fiscal Year Ended December 31, 2017 in accordance with Rule 15c2-12. The District became obligated to file such information in association with the issuance of the Revenue Refunding and Improvement Bonds, Series 2016. The District has since engaged Hilltop Securities, Inc. as its continuing disclosure dissemination agent, and as of November 8, 2018 has filed all required disclosures with the Municipal Securities Rulemaking Board (MSRB) through its Electronic Municipal Market Access (EMMA) system.
- Issue Currency: *****
- Announcement Date: 08-Nov-2018
- News: This Notice is being provided by the Combined Consumers SUD, Texas (the District), pursuant to the requirement of Rule 15c2-12 (the Rule) of the Securities Exchange Act of 1934, as notification of occurrence of the following material event as defined in paragraph (b)(5)(i)(D) of the Rule. The District became obligated to file annual reports with the Municipal Securities Rulemaking Board (MSRB) in an offering that took place in 2016. Due to an administrative oversight, the annual report for the Districts fiscal year end December 31, 2016 was not timely filed with the MSRB. All information has since been filed on the MSRBs EMMA system including a notice of late filing. The Town has implemented procedures to ensure timely filing of all future financial information.
- Issue Currency: United States of America Dollars
- Announcement Date: 27-Aug-2018
- News: This Notice is being provided by the Combined Consumers Special Utility District, Texas (the Issuer), pursuant to the requirement of Rule 15c2-12 (the Rule) of the Securities and Exchange Commission, as notification of occurrence of the following material event as defined in paragraph (b)(5)(i)(C) of the Rule. On August 14, 2018 the underlying rating for the above referenced debt of the Issuer, as assigned by S&P Global Ratings has been lowered to BBB- from BBB.
