IPS Multi-School Building Corporation
CUSIP *****
- Issue Currency: United States of America Dollars
- Announcement Date: 17-Nov-2016
- News: NOTICE IS HEREBY GIVEN to the holders of the ""IPS Multi-School School Building Corporation First Mortgage Refunding Bonds, Series 2007"" dated February 13, 2007, maturing on January 15 in the years 2017, 2025, 2026, 2027 and 2028 and on July 15 in the years 2017, 2018, 2019, 2023, 2024, 2025 and 2026 (the ""Defeased Bonds""), that the IPS Multi-School Building Corporation in Indianapolis, Indiana (the ""Building Corporation""), adopted a resolution on September 28, 2016, at a special meeting of the Building Corporation (the ""Refunding Bond Resolution""), by which Refunding Bond Resolution the Building Corporation authorized the issuance of its bonds designated as ""IPS Multi-School Building Corporation Ad Valorem Property Tax First Mortgage Refunding Bonds, Series 2016 B"" (the ""Refunding Bonds""). A portion of the proceeds of the Refunding Bonds are to be used to defease the Defeased Bonds and currently refund the Defeased Bonds maturing on January 15 in the years 2025, 2026, 2027 and 2028 and on July 15 2017, 2018, 2019, 2023, 2024, 2025, 2026. Pursuant to an Irrevocable Escrow Deposit Agreement entered into between the Building Corporation and The Bank of New York Mellon Trust Company, N.A., as Escrow Trustee (the ""Escrow Trustee"") and dated as of October 1, 2016, the Building Corporation has directed the Escrow Trustee to provide such notice or notices of redemption as required by the Trust Indenture and Mortgage entered into between the Building Corporation and the Escrow Trustee, as the ultimate successor Trustee to Fifth Third Bank, Indiana,, and dated as of March 1, 2003, as amended and supplemented by the First Supplemental Trust Indenture and Mortgage entered into dated as of June 1, 2004, as further supplemented by a Second Supplemental Trust Indenture and Mortgage entered into and dated as of February 1, 2007, and as further amended and supplemented by the Third Supplemental Trust Indenture and Mortgage dated as of October 1, 2016 (collectively the ""Refunded Bonds Trust Indenture""), sufficient to pay the principal and interest on the Defeased Bonds as they become due and to redeem the Defeased Bonds, maturing on and after July 15, 2017, on January 15, 2017 (the ""Redemption Date""). Pursuant to the Irrevocable Escrow Deposit Agreement, the Escrow Trustee has invested on October 20, 2016, a portion of the proceeds received from the sale of the Refunding Bonds in United States Treasury Securities (the ""Securities""). The Securities are in the principal amounts, bear interest at the rate or rates and mature on the dates set forth more fully below: Security Type Delivery Date Maturity Date Par Amount Coupon Rate Treasury Note 10/20/16 1/15/17 $153,471,000 0.75% The Escrow Trustee, as Trustee under the Refunded Bonds Trust Indenture, has released the Refunded Bonds Trust Indenture with respect to the Defeased Bonds in accordance with Section 9.01 of said Refunded Bonds Trust Indenture upon termination of its right, titl
- Issue Currency: United States of America Dollars
- Announcement Date: 29-Aug-2017
- News: Moodys Investors Service lowered its long-term rating on Indianapolis Public Schools abovelisted bonds to A1 from Aa3. The rating was released on August 18, 2017. For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 28-Aug-2017
- News: Moodys Investors Service lowered its long-term rating on Indianapolis Public Schools abovelisted bonds to A1 from Aa3. The rating was released on August 18, 2017. For Bond Document please visit www.BondPDF.com
