Municipal Bonds and Continuing Disclosure

The Official Statements for all City bond issues and the outstanding principal portion of each as of 6/30/18:
 

General Obligation Bond Issues:

Official Statement - Series 2006 Refunding Oct 2006   $  510,000
Official Statement - Series 2011A Refunding Sept 2011         845,000
Official Statement - Series 2015A Lake Grove & Refunding    Feb 2015    6,230,000
     Sub-total   $7,585,000


  

 

 

Full Faith and Credit Obligations:

Official Statement - Series 2009 A   (Wastewater)
     Partially refunded in 2017
                 May 2009 $     2,020,000
Official Statement - Series 2010 A   (Wastewater)   Sept 2010   27,845,000
Official Statement - Series 2011 A  (LORA) Sept 2011     8,305,000
Official Statement - Series 2013  (Water) August 2013     70,955,000
Official Statement - Series 2017 Refunding  (Sewer) Dec 2017    44,160,000
Official Statement - Series 2018  Refunding  (LORA,
Water, and Stormwater)
May 2018    51,640,000
     Sub-total   $204,925,000








 

  

 

 

                                                           Total outstanding bond principal

         

$212,510,000

 

 

City Bond Credit Ratings

  • Moody's assigns a stable outlook to the City's full faith and credit refunding bonds, Series 2018 with a credit rating of Aaa in March 2018.

  • Moody's reaffirmed the Aaa rating in March 2018 for the City's outstanding general obligation (GO) and full faith and credit bonds.

  • Standard & Poor's assigned its AAA long-term rating to the City's full faith and credit refunding bonds, Series 2018 in March 2018.

  • Standard & Poor's reaffirmed its AAA rating on the City's outstanding GO Debt and the full faith and credit obligations in March 2018

 

Continuing Disclosures
The SEC requires certain continuing disclosure requirements under SEC Rule 15c2-12 that include annual financial information, audited financial statements, material event notices, failure to file notices and any other voluntary and relevant bond disclosures. The City is in compliance with all of these annual disclosure requirements.

For your convenience, the City is registered with EMMA where a bond holder or investor can receive the City's required financial disclosure information. Below is a list of the City's latest CUSIP filings (pdfs are included in supporting documents section):

  • CUSIP No. 510390 General Obligation Bonds
  • CUSIP No. 510421 Water Revenue Bonds
  • CUSIP No. 510412 Surface Water Revenue Bonds

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Disclaimer Language. Official Statements listed for the above bond issues may be accessed in PDF format. These documents are provided as of the sale date of the bond issue and should be considered historical in nature. The City does not undertake to update information provided herein. The information and expressions of opinion therein are subject to change without notice and the posting of information on the web site does not imply that there has been no change in the affairs of the City since the date of the document.

Related Links Attachments