Payne County Oklahoma Economic Development Authority, Oklahoma
CUSIP 704387AK5
- Issue Currency: United States of America Dollars
- Announcement Date: 20-Dec-2017
- News: Effective December 13, 2017, UMB Bank, N.A. (the Successor Trustee), replaced BancFirst (the Prior Trustee) as trustee under that certain Bond Trust Indenture dated as of June 1, 2016, between the Prior Trustee and the Payne County Economic Development Authority as issuer of the above- referenced Bonds, and under that certain Master Trust Indenture dated as of June 1, 2016, between the Prior Trustee and White Woods Retirement Campus, Inc. (Epworth Living at the Ranch) (the Borrower). The proceeds of the Bonds were loaned by the Issuer to the Borrower to finance the construction and development of a continuing care retirement center in Stillwater, Oklahoma (the Facility). As a result of the replacement of the trustee function, funds in the trust estate have been paid over to the Successor Trustee by the Prior Trustee, and rights under the various collateral and security instruments will be assigned of record to the Successor Trustee.
- Issue Currency: United States of America Dollars
- Announcement Date: 14-Dec-2017
- News: Effective December 13, 2017, UMB Bank, N.A. (the Successor Trustee), replaced BancFirst (the Prior Trustee) as trustee under that certain Bond Trust Indenture dated as of June 1, 2016, between the Prior Trustee and the Payne County Economic Development Authority as issuer of the above- referenced Bonds, and under that certain Master Trust Indenture dated as of June 1, 2016, between the Prior Trustee and White Woods Retirement Campus, Inc. (Epworth Living at the Ranch) (the Borrower). The proceeds of the Bonds were loaned by the Issuer to the Borrower to finance the construction and development of a continuing care retirement center in Stillwater, Oklahoma (the Facility). As a result of the replacement of the trustee function, funds in the trust estate have been paid over to the Successor Trustee by the Prior Trustee, and rights under the various collateral and security instruments will be assigned of record to the Successor Trustee.
- Issue Currency: United States of America Dollars
- Announcement Date: 05-Mar-2018
- News: The Trustee, at the direction of the Majority Holders, has accelerated the Bonds as a result of the Event of Default under the Bond Indenture. The Trustee delivered a notice of acceleration to the Issuer and the Borrower on March 7, 2018.
