Highlands Sewer District, King County, Washington

• Issue Currency: United States of America Dollars
• Announcement Date: 26-Apr-2018
• News: At all times that any of the above-referenced bonds (the Bonds) are outstanding, the District has covenanted to maintain a coverage requirement: (1) for any period during which Assessments may be paid without becoming delinquent, in a dollar amount equal to 1.0 times Average Annual Debt service; or (2) for any other period, in a dollar amount equal to the product of 1.20 times Average Annual Debt service on all Parity Bonds then outstanding. The District failed to meet the coverage requirement in calendar year 2017. Debt service coverage in calendar year 2017 was 0.90.

• Issue Currency: United States of America Dollars
• Announcement Date: 24-Apr-2018
• News: At all times that any of the above-referenced bonds (the Bonds) are outstanding, the District has covenanted to maintain a coverage requirement: (1) for any period during which Assessments may be paid without becoming delinquent, in a dollar amount equal to 1.0 times Average Annual Debt service; or (2) for any other period, in a dollar amount equal to the product of 1.20 times Average Annual Debt service on all Parity Bonds then outstanding. The District failed to meet the coverage requirement in calendar year 2017. Debt service coverage in calendar year 2017 was 0.90.