Valagua Metropolitan District
CUSIP 91886PAA0
- Issue Currency: United States of America Dollars
- Announcement Date: 09-Dec-2015
- News: Municipal Name: Valagua Metropolitan District CUSIP: 91886PAA0 Valagua Metropolitan District announced today that there was short of being able to make the debt service payment in the amount of USD 863,750 for the Series 2008 Bonds on December 1, 2015 . It is not anticipated that such shortfalls will be made up, but rather will continue into future years due to the Districts current financial condition. For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 03-Jun-2015
- News: CUSIP: 91886PAA0 Valagua Metropolitan District announced today that there was short of being able to make the USD 813,750 June 1, 2015 debt service payment of Series 2008 Bonds. It is not anticipated that such shortfalls will be made up in 2015 due to the Districts current financial condition. For Bond Document please visit www.BondPDF.com
- Issue Currency: United States of America Dollars
- Announcement Date: 31-May-2016
- News: Notice is hereby given by the Valagua Metropolitan District (the District), in the Town of Gypsum, Eagle County, Colorado (the District) in accordance with the disclosure requirements of Securities and Exchange Commission Rule 15c2-12 related to the Districts General Obligation Limited Tax Bonds Series 2008, dated as of June 24, 2008, issued in the original principal amount of $21,000,000 (the Bonds). The Bonds are payable from certain pledged revenues. The Districts debt service mill levy is capped at 50 mills. Based on the current assessed value and tax collections to date the District was $677,620 short of being able to make the $813,750 interest June 1, 2016 debt service payment. This shortfall is in addition to approximately $1,530,573 in accrued but unpaid interest from prior shortfalls from December 1, 2014 to December 1, 2015. It is not anticipated that such shortfalls will be made up, but rather will continue into future years due to the Districts current financial condition. The Valagua Metropolitan District Board of Directors has discussed refunding the Bonds with the bond underwriter and were told it is not feasible at this time due to the financial condition of the District. For Bond Document please visit www.BondPDF.com
