Community Consolidated School District Number 26
CUSIP 580798KL9
- Issue Currency: United States of America Dollars
- Announcement Date: 01-Feb-2018
- News: The District has approved a comprehensive plan of refunding (the Refunding Plan) with respect to certain of the outstanding 2011A Bonds, 2016A Bonds and 2017B Bonds (as further described on Exhibit A attached hereto, the Refunded Bonds). In connection with the Refunding Plan, the District has funded an escrow account with lawfully available funds for the purpose of refunding the Refunded Bonds. The escrow account holds certain non-callable, general obligation bonds or other obligations of political subdivisions or agencies of the State of Illinois or other states (other than the District) secured by the full faith, credit and resources of the State of Illinois or other states or political subdivisions or agencies of the State of Illinois or other states, with a rating within the four highest general classifications established by a rating service of nationally recognized expertise in rating bonds of states and their political subdivisions. In accordance with the Refunding Plan, the District has abated the taxes heretofore levied to pay the Refunded Bonds. This notice is being provided to the Municipal Securities Rulemaking Board through its Electronic Municipal Market Access system for municipal securities disclosure for general information purposes only, should not be viewed as a formal notification to bondholders and does not constitute an offer to buy, or the solicitation of an offer to sell, any of the Refunded Bonds.
- Issue Currency: United States of America Dollars
- Announcement Date: 02-Feb-2018
- News: The District has approved a comprehensive plan of refunding (the Refunding Plan) with respect to certain of the outstanding 2011A Bonds, 2016A Bonds and 2017B Bonds (as further described on Exhibit A attached hereto, the Refunded Bonds). In connection with the Refunding Plan, the District has funded an escrow account with lawfully available funds for the purpose of refunding the Refunded Bonds. The escrow account holds certain non-callable, general obligation bonds or other obligations of political subdivisions or agencies of the State of Illinois or other states (other than the District) secured by the full faith, credit and resources of the State of Illinois or other states or political subdivisions or agencies of the State of Illinois or other states, with a rating within the four highest general classifications established by a rating service of nationally recognized expertise in rating bonds of states and their political subdivisions. In accordance with the Refunding Plan, the District has abated the taxes heretofore levied to pay the Refunded Bonds. This notice is being provided to the Municipal Securities Rulemaking Board through its Electronic Municipal Market Access system for municipal securities disclosure for general information purposes only, should not be viewed as a formal notification to bondholders and does not constitute an offer to buy, or the solicitation of an offer to sell, any of the Refunded Bonds.
- Issue Currency: United States of America Dollars
- Announcement Date: 17-Apr-2018
- News: Community Consolidated School District Number 26, McHenry and Lake Counties, Illinois (the District), pursuant to issuing its General Obligation School Bonds, Series 2011A, General Obligation Refunding School Bonds, Series 2011B, and Taxable General Obligation School Bonds, Series 2011C (together, the Bonds), entered into an undertaking (the Undertaking) to file notice of certain material events with respect to such securities as required by Rule 15c2-12 of the Securities Exchange Act of 1934. Among the material events for which notice is required by the Undertaking is a change in the Districts bond rating. In accordance with the Undertaking, notice is hereby given to owners of the Bonds that Moodys Investors Service, Inc. (Moodys) upgraded the underlying credit rating of the Bonds from A1 to Aa3 (Positive Outlook) on April 11, 2018. Any explanation of the significance of such rating can only be obtained from Moodys.
