Mountain Shadows Metropolitan District

• Issue Currency: United States of America Dollars
• Announcement Date: 08-Dec-2016
• News: This Material Events Notice is being generated in connection with the Mountain Shadows Metropolitan District (the District) Limited Tax General Obligation, Series 2015 Bonds in the original principal amount of $2,845,000 (the Bonds). The total amount payable for the December 1, 2016 debt service payment on the Bonds is $78,237.50. In order to pay the amount due, the trustee was advised to use $27,747.17 out of the specified reserve funds. This deficiency is due to the fact that the collection of levied property taxes to date was insufficient to completely account for the debt service payment due and owing on the Bonds on December 1, 2016. The balance in the Bonds reserve fund, as of December 1, 2016, was $133,202.49. The amount transferred to the bond fund to fully pay the December 1, 2016 debt service payment represented approximately 21% of the December 1, 2016 reserve fund amount. The amount remaining in the reserve fund after the December 1, 2016 payment is $105,455.32.