Medical Clinic Board of the City of Opelika, Alabama/The
CUSIP 683507AB3
- Issue Currency: United States of America Dollars
- Announcement Date: 11-May-2016
- News: The Trustee received the funds for the payment that was due under the Lease Agreement via ACH on May 2, 2016. That payment was rescinded by the Lessee a few days later and the Trustee needed to draw from funds held in the Debt Service Reserve fund in the amount of $49,359.37 to fund the interest payment due on the Bonds. The failure of the Lessee to provide the interest payment due on the Bonds constitutes an event of default under Section 4.2 (a) (i) of the Lease Agreement and the event of default under the Lease Agreement constitutes an event of default under Section 901 (d) of the Indenture. For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 11-May-2016
- News: The Trustee received the funds for the payment that was due under the Lease Agreement via ACH on May 2, 2016. That payment was rescinded by the Lessee a few days later and the Trustee needed to draw from funds held in the Debt Service Reserve fund in the amount of $49,359.37 to fund the interest payment due on the Bonds. The failure of the Lessee to provide the interest payment due on the Bonds constitutes an event of default under Section 4.2 (a) (i) of the Lease Agreement and the event of default under the Lease Agreement constitutes an event of default under Section 901 (d) of the Indenture. For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 11-May-2016
- News: The Trustee received the funds for the payment that was due under the Lease Agreement via ACH on May 2, 2016. That payment was rescinded by the Lessee a few days later and the Trustee needed to draw from funds held in the Debt Service Reserve fund in the amount of $49,359.37 to fund the interest payment due on the Bonds. The failure of the Lessee to provide the interest payment due on the Bonds constitutes an event of default under Section 4.2 (a) (i) of the Lease Agreement and the event of default under the Lease Agreement constitutes an event of default under Section 901 (d) of the Indenture. For Bond Document please visit www.BondPDF.com
