About this bond issuance
Bond proceeds will be used to refund the existing Public Improvement (Serial) Bonds, 2006 for savings. Please review the Official Statement for more details.
ObligorThe obligor is the organization that holds ultimate responsibility for the bond issuance, and will ensure that investors get repaid.
County of Clinton, New York
IssuerOften the obligor. However, sometimes issuers partner with an authorized conduit financing non-profit within their state or city to issue the bonds.
County of Clinton, New York
AuthorityBefore an issuer can raise money for a project, they must first have the legal authority to do so. This authority is sometimes preceded by a general election, and awarded after the successful passing of a bond measure.
The Bonds are being issued pursuant to the Constitution and statutes of the State of New York, including among others, the Local Finance Law, and a refunding bond resolution duly adopted by the County Legislature on February 1, 2017 (the "Refunding Bond Resolution"), authorizing the refunding of all or a portion of $16,300,000 of the outstanding $24,255,833 Public Improvement (Serial) Bonds, 2006. Please review the the Official Statement for more details.
SecurityThe security section is a breakdown of the funds an issuer is planning to use to repay its investors. This repayment can come from a variety of sources, including local taxes.
The Bonds are general obligations of County of Clinton, New York and will contain a pledge of the faith and credit of the County for the payment of the principal thereof and interest thereon and, unless paid from other sources, the Bonds are payable from ad valorem taxes which may be levied upon all the taxable real property within the County, subject to applicable statutory limitation.
TrusteeThe trustee is a third-party, often a large bank or financial institution, responsible for all payment flows between an issuer and an investor. This trustee is in charge of processing coupon payments.
The County will act as Paying Agent for the Bonds.
The Bonds maturing on or before July 15, 2024 will not be subject to redemption prior to maturity. The Bonds maturing on July 15, 2025 and thereafter, will be subject to redemption, at the option of the County, prior to maturity, in whole or in part, and if in part, in any order of their maturity and in any amount within a maturity (selected by lot within a maturity), on any date on or after July 15, 2024, at par plus accrued interest to the date of redemption.
Notice of such call for redemption shall be given by mailing such notice to the registered owner at least thirty (30) days prior to the date set for such redemption. Notice of redemption having been given as aforesaid, the bonds so called for redemption shall, on the date for redemption set forth in such call for redemption, become due and payable together with interest to such redemption date. Interest shall cease to be paid thereon after such redemption date.