San Marcos Public Facilities Authority


CUSIP 79875RBN5
  • Issue Currency: United States of America Dollars
  • Announcement Date: 27-Jun-2017
  • News: On June 26, 2017, S&P lowered its financial strength rating on National to A from AA- with a stable outlook For Bond Document please visit www.BondPDF.com
CUSIP 79875WJR7
  • Issue Currency: United States of America Dollars
  • Announcement Date: 03-May-2018
  • News: This Material Event Notice is filed pursuant to the Continuing Disclosure Agreement (the Disclosure Agreement), dated as of July 1, 2007, as executed and entered into by and between the City of San Marcos (the City), for itself and as agent for the San Marcos Public Facilities Authority (the Issuer and the Authority) and MUFG Union Bank, N.A., formerly Union Bank of California, N.A., as dissemination agent (the Dissemination Agent) in connection with the issuance and delivery by the Issuer of its $26,405,000 San Marcos Public Facilities Authority Special Tax Revenue Refunding Bonds, Series 2007 (the Bonds). [Note: On May 4, 2015, MUFG Union Bank, N.A. issued a letter informing the Authority that they were resigning as Dissemination Agent effective 60 days from the date of the letter. The Authority will continue to disseminate annual reports and material event notices, as required per the Disclosure Agreement, via EMMA as it has done in the past.] The Bonds were issued pursuant to an Indenture of Trust (the Indenture) dated as of July 1, 2007, between the Issuer and MUFG Union Bank, N.A., as successor to Union Bank of California, N.A., as trustee (the Trustee). The Bonds are described in the Official Statement relating to the Bonds, dated July 12, 2007 (the Official Statement). The information in this Material Event Notice is provided in order to comply with the Authority`s commitment established by the Disclosure Agreement to provide the information specified therein. Neither the City nor the Authority make any representation that this Material Event Notice contains all information material to a decision to purchase or sell Bonds. The information set forth herein has been furnished by the City, for and on behalf of the Authority, and includes information obtained from other sources, which are believed to be reliable, but no representation or guarantee as to the accuracy or completeness of any such information is made by either the City or the Authority. Any statement herein involving matters of opinion or estimates, whether or not so expressly stated, are set forth as such and not as representations of fact, and no representation is made that such opinions or estimates will be realized. The information and expressions of opinion contained in this Material Event Notice are provided as of the respective dates specified herein and are subject to change without notice, and the filing of this Material Event Notice shall not, under any circumstances, create any implication that there has been no change in the affairs of the Authority or in the other matters described herein since the date as of which such information is provided. MATERIAL EVENT: RATING CHANGE The purpose of this Notice is to disclose the latest rating action taken by S&P Global Ratings (S&P) regarding the Bonds. Rating Change On May 2, 2018, S&P raised its long-term rating and underlying rating (SPUR) on the Bonds to A+ from A-. At the same time S&P affirmed the outlook as stable. The rating reflects the application of S&Ps updated methodology for assessing special assessment, Special SAN MARCOS PUBLIC FACILITIES AUTHORITY MATERIAL EVENT NOTICE $26,405,000 SPECIAL TAX REVENUE REFUNDING BONDS, SERIES 2007 RATING CHANGE Finance Department 2 May 3, 2018 Assessment Debt, published April 2, 2018 on RatingsDirect. Reference is made to S&Ps website for further rating information.
CUSIP 79875WJQ9
  • Issue Currency: United States of America Dollars
  • Announcement Date: 03-May-2018
  • News: This Material Event Notice is filed pursuant to the Continuing Disclosure Agreement (the Disclosure Agreement), dated as of July 1, 2007, as executed and entered into by and between the City of San Marcos (the City), for itself and as agent for the San Marcos Public Facilities Authority (the Issuer and the Authority) and MUFG Union Bank, N.A., formerly Union Bank of California, N.A., as dissemination agent (the Dissemination Agent) in connection with the issuance and delivery by the Issuer of its $26,405,000 San Marcos Public Facilities Authority Special Tax Revenue Refunding Bonds, Series 2007 (the Bonds). [Note: On May 4, 2015, MUFG Union Bank, N.A. issued a letter informing the Authority that they were resigning as Dissemination Agent effective 60 days from the date of the letter. The Authority will continue to disseminate annual reports and material event notices, as required per the Disclosure Agreement, via EMMA as it has done in the past.] The Bonds were issued pursuant to an Indenture of Trust (the Indenture) dated as of July 1, 2007, between the Issuer and MUFG Union Bank, N.A., as successor to Union Bank of California, N.A., as trustee (the Trustee). The Bonds are described in the Official Statement relating to the Bonds, dated July 12, 2007 (the Official Statement). The information in this Material Event Notice is provided in order to comply with the Authority`s commitment established by the Disclosure Agreement to provide the information specified therein. Neither the City nor the Authority make any representation that this Material Event Notice contains all information material to a decision to purchase or sell Bonds. The information set forth herein has been furnished by the City, for and on behalf of the Authority, and includes information obtained from other sources, which are believed to be reliable, but no representation or guarantee as to the accuracy or completeness of any such information is made by either the City or the Authority. Any statement herein involving matters of opinion or estimates, whether or not so expressly stated, are set forth as such and not as representations of fact, and no representation is made that such opinions or estimates will be realized. The information and expressions of opinion contained in this Material Event Notice are provided as of the respective dates specified herein and are subject to change without notice, and the filing of this Material Event Notice shall not, under any circumstances, create any implication that there has been no change in the affairs of the Authority or in the other matters described herein since the date as of which such information is provided. MATERIAL EVENT: RATING CHANGE The purpose of this Notice is to disclose the latest rating action taken by S&P Global Ratings (S&P) regarding the Bonds. Rating Change On May 2, 2018, S&P raised its long-term rating and underlying rating (SPUR) on the Bonds to A+ from A-. At the same time S&P affirmed the outlook as stable. The rating reflects the application of S&Ps updated methodology for assessing special assessment, Special SAN MARCOS PUBLIC FACILITIES AUTHORITY MATERIAL EVENT NOTICE $26,405,000 SPECIAL TAX REVENUE REFUNDING BONDS, SERIES 2007 RATING CHANGE Finance Department 2 May 3, 2018 Assessment Debt, published April 2, 2018 on RatingsDirect. Reference is made to S&Ps website for further rating information.



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