County of Wake
CUSIP 930876BU0
- Issue Currency: United States of America Dollars
- Announcement Date: 20-Jun-2016
- News: Notice is hereby given that on June 16, 2016, the County issued its $191,835,000 Limited Obligation Refunding Bonds, Series 2016A (the Series 2016A Bonds) pursuant to the Trust Agreement and the Second Supplemental Trust Agreement, dated as of June 1, 2016 (the Second Supplemental Trust Agreement). In connection with the issuance of the Series 2016A Bonds, the provisions of the Trust Agreement regarding the amount of title insurance coverage required by the Trust Agreement were amended. The Trust Agreement provided that the County would obtain and maintain title insurance coverage on the tracts of real property upon which the property securing the Bonds is located, insuring the Countys fee simple interest in said property in an amount equal to the amount of Bonds outstanding under the Trust Agreement. The County obtained at the time of execution of the Trust Agreement a mortgagees title insurance policy, naming the Trustee as the named insured, in an amount of $148,860,000, the amount of the Series 2010 Bonds initially issued under the Trust Agreement, which policy is in effect. In connection with the issuance of the Series 2016A Bonds, the Trust Agreement was amended to limit the amount of the title insurance the County is required to maintain to $148,860,000. The Trust Agreement was further amended to provide that, in the event that payments by the title insurer are received and to be applied to the redemption of Bonds, such payment shall be applied first to redeem or defease any remaining Series 2010 Bonds before the amounts so transferred shall be applied to the redemption or defeasance of any other Bonds under the Trust Agreement. On account of the issuance of the 2016A Bonds and the refunding affected thereby, the amendment will apply to the Series 2016A Bonds and the Series 2010 Bonds issued under the Trust Agreement and outstanding as of the date hereof as set forth below: Year of Maturity (January 1) Amount CUSIP 2017 $5,955,000 930876 BR7 2018 5,950,000 930876 BS5 2019 5,950,000 930876 BT3 2020 5,955,000 930876 BU0 For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 20-Jun-2016
- News: Notice is hereby given that on June 16, 2016, the County issued its $191,835,000 Limited Obligation Refunding Bonds, Series 2016A (the Series 2016A Bonds) pursuant to the Trust Agreement and the Second Supplemental Trust Agreement, dated as of June 1, 2016 (the Second Supplemental Trust Agreement). In connection with the issuance of the Series 2016A Bonds, the provisions of the Trust Agreement regarding the amount of title insurance coverage required by the Trust Agreement were amended. The Trust Agreement provided that the County would obtain and maintain title insurance coverage on the tracts of real property upon which the property securing the Bonds is located, insuring the Countys fee simple interest in said property in an amount equal to the amount of Bonds outstanding under the Trust Agreement. The County obtained at the time of execution of the Trust Agreement a mortgagees title insurance policy, naming the Trustee as the named insured, in an amount of $148,860,000, the amount of the Series 2010 Bonds initially issued under the Trust Agreement, which policy is in effect. In connection with the issuance of the Series 2016A Bonds, the Trust Agreement was amended to limit the amount of the title insurance the County is required to maintain to $148,860,000. The Trust Agreement was further amended to provide that, in the event that payments by the title insurer are received and to be applied to the redemption of Bonds, such payment shall be applied first to redeem or defease any remaining Series 2010 Bonds before the amounts so transferred shall be applied to the redemption or defeasance of any other Bonds under the Trust Agreement. On account of the issuance of the 2016A Bonds and the refunding affected thereby, the amendment will apply to the Series 2016A Bonds and the Series 2010 Bonds issued under the Trust Agreement and outstanding as of the date hereof as set forth below: Year of Maturity (January 1) Amount CUSIP 2017 $5,955,000 930876 BR7 2018 5,950,000 930876 BS5 2019 5,950,000 930876 BT3 2020 5,955,000 930876 BU0 For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 21-Jun-2016
- News: Notice is hereby given that on June 16, 2016, the County issued its $191,835,000 Limited Obligation Refunding Bonds, Series 2016A (the Series 2016A Bonds) pursuant to the Trust Agreement and the Second Supplemental Trust Agreement, dated as of June 1, 2016 (the Second Supplemental Trust Agreement). In connection with the issuance of the Series 2016A Bonds, the provisions of the Trust Agreement regarding the amount of title insurance coverage required by the Trust Agreement were amended. The Trust Agreement provided that the County would obtain and maintain title insurance coverage on the tracts of real property upon which the property securing the Bonds is located, insuring the Countys fee simple interest in said property in an amount equal to the amount of Bonds outstanding under the Trust Agreement. The County obtained at the time of execution of the Trust Agreement a mortgagees title insurance policy, naming the Trustee as the named insured, in an amount of $148,860,000, the amount of the Series 2010 Bonds initially issued under the Trust Agreement, which policy is in effect. In connection with the issuance of the Series 2016A Bonds, the Trust Agreement was amended to limit the amount of the title insurance the County is required to maintain to $148,860,000. The Trust Agreement was further amended to provide that, in the event that payments by the title insurer are received and to be applied to the redemption of Bonds, such payment shall be applied first to redeem or defease any remaining Series 2010 Bonds before the amounts so transferred shall be applied to the redemption or defeasance of any other Bonds under the Trust Agreement. On account of the issuance of the 2016A Bonds and the refunding affected thereby, the amendment will apply to the Series 2016A Bonds and the Series 2010 Bonds issued under the Trust Agreement and outstanding as of the date hereof as set forth below: Year of Maturity (January 1) Amount CUSIP 2017 $5,955,000 930876 BR7 2018 5,950,000 930876 BS5 2019 5,950,000 930876 BT3 2020 5,955,000 930876 BU0 For Bond Document please visit www.BondPDF.com
