Development Authority of Dekalb County
CUSIP 240463HD4
- Issue Currency: United States of America Dollars
- Announcement Date: 05-Nov-2015
- News: Municipal Name: Development Authority of Dekalb County CUSIP: 240463HD4 Partial Redemption: USD 485M Redemption Date: December 10, 2015 For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 23-May-2016
- News: Reference is made to (i) that certain Trust Indenture dated as of September 1, 2014 (the Indenture), by and between Development Authority of DeKalb County (the Issuer) and Wilmington Trust, National Association, as trustee (the Trustee) and (ii) that certain Loan Agreement dated as of September 1, 2014 (the Loan Agreement), by and between the Issuer and Ivy Preparatory Academy, Incorporated (the Borrower), which Loan Agreement was assigned to the Trustee. The Indenture and the Loan Agreement each relate to the Issuers $12,910,000 Charter School Revenue Bonds (Ivy Preparatory Academy, Incorporated Project), Series 2014A (the Series 2014A Bonds) and $875,000 Charter School Taxable Revenue Bonds (Ivy Preparatory Academy, Incorporated Project), Series 2014B (the Series 2014B Bonds and together with the Series 2014A Bonds, the Bonds). Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to such terms in the Loan Agreement or the Indenture, as applicable. NOTICE IS HEREBY GIVEN to the Holders of all the above outstanding Series 2014B Bonds that, Hamlin Capital Management, LLC, as the Bondholder Representative of at least 66 2/3% of the Beneficial Owners of the Bonds (Hamlin), has directed the Trustee to defer the $120,000 mandatory sinking fund installment payment due on the Series 2014B Bonds on July 1, 2016 (the Deferred Principal Amount) to July 1, 2021 so that the principal payment due on the Series 2014B Bonds on July 1, 2021 shall be equal to $280,000. For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 01-Jun-2018
- News: Reference is made to (i) that certain Trust Indenture dated as of September 1, 2014 (the ""Indenture""), by and between Development Authority of DeKalb County (the ""Issuer"") and Wilmington Trust, National Association, as trustee (the ""Trustee"") and (ii) that certain Loan Agreement dated as of September 1, 2014 (the ""Loan Agreement""), by and between the Issuer and Ivy Preparatory Academy, Incorporated (the ""Borrower""), which Loan Agreement was assigned to the Trustee. The Indenture and the Loan Agreement each relate to the Issuer`s $12,910,000 Charter School Revenue Bonds (Ivy Preparatory Academy, Incorporated Project), Series 2014A (the ""Series 2014A Bonds"") and $875,000 Charter School Taxable Revenue Bonds (Ivy Preparatory Academy, Incorporated Project), Series 2014B (the ""Series 2014B Bonds"" and together with the Series 2014A Bonds, the ""Bonds""). Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to such terms in the Loan Agreement or the Indenture, as applicable. By letter dated May 6, 2016, Hamlin Capital Management, LLC, as the Bondholder Representative of at least 66 2/3% of the Beneficial Owners of the Bonds (""Hamlin"") previously directed the Trustee to defer the $120,000 mandatory sinking fund installment payment due on the Series 2014B Bonds on July 1, 2016 (the ""Deferred 2016 Principal Amount"") to July 1, 2021 so that the principal payment due on the Series 2014B Bonds on July 1, 2021 shall be equal to $280,000. By letter dated November 10, 2016, Hamlin, as the Bondholder Representative of at least 66 2/3% of the Beneficial Owners of the Bonds previously directed the Trustee to (i) defer the $130,000 mandatory sinking fund installment payment due on the Series 2014B Bonds on July 1, 2017 (the ""Deferred 2017 Principal Amount"" and together with the Deferred 2016 Principal Amount, the ""Deferred Principal Amount"") to July 1, 2021 so that the principal payment due on the Series 2014B Bonds on July 1, 2021 shall be equal to $410,000, (ii) pay interest on the Bonds on July 1, 2017 and January 1, 2018 at 4.00% rather than the interest rates set forth in the Indenture and (iii) pay interest on the Bonds on July 1, 2018 and January 1, 2019 at 5.00% rather than the interest rates set forth in the Indenture. Hamlin, as the Bondholder Representative of at least 66 2/3% of the Beneficial Owners of the Bonds has now directed the Trustee to defer the $145,000 mandatory sinking fund installment payment due on the Series 2014B Bonds on July 1, 2018 (the Deferred 2018 Principal Amount) and together with the Deferred 2016 Principal Amount and the Deferred 2017 Principal Amount, the Deferred Principal Amount) to July 1, 2021 so that the principal payment due on the Series 2014B Bonds on July 1, 2021 shall be equal to $555,000. The direction to proceed with the Deferred 2018 Principal Amount is conditional upon the execution of the deferment agreement by the Borrower. Resolution on the matter of the Deferred 2018 Principal Amount is expected on June 8, 2018.
