School Board of Broward County

• Issue Currency: United States of America Dollars
• Announcement Date: 28-Dec-2017
• News: NOTICE IS HEREBY GIVEN that The School Board of Broward County, Florida (the School Board) acting as the governing body of the School District of Broward County, Florida (the District) has entered into an Escrow Deposit Agreement (the ""Escrow Agreement"") with U.S. Bank National Association, as Escrow Agent, for the purpose of advance refunding, on a cross-over basis, the outstanding Certificate of Participation, Series 2009A-BAB (Federally Taxable-Direct Payment-Build America Bonds), evidencing an undivided proportionate interest in Basic Lease Payments, as set forth in Schedule 2009A-1 and Schedule 2009A-2, each dated as of June 1, 2009, to the Master Lease Purchase Agreement to be made by the School Board acting as the governing body of the District pursuant to the Master Lease Purchase Agreement, dated as of July 1, 1990, as amended (the Master Lease), between Broward School Board Leasing Corp., a not-for-profit corporation duly organized and existing under the laws of the State of Florida, as lessor (the Corporation), and the School Board, as lessee, described above (the 2009A-BAB Certificates). A portion of the proceeds from the Certificates of Participation, Series 2017B in the aggregate principal par amount of $56,300,000 (the 2017B Certificates), have been deposited with the Escrow Agent under the Escrow Agreement and, except to the extent maintained in cash, have been invested in noncallable United States Government Obligations (as defined in the Master Trust Agreement dated as of July 1, 1990, as amended and as supplemented by a Series 2009A Supplemental Trust Agreement dated as of June 1, 2009, between the Corporation and the Trustee (as the same may be amended and supplemented from time to time, collectively, the 2009A Trust Agreement), under which the 2009A-BAB Certificates were issued.