Community Facilities District No.
95-1 of the Del Mar Union School
District Series 2017 Special...

Community Facilities District No 95-1 Of The Del Mar Union School District

Invest in the Del Mar Union School District today. The school district is refinancing a portion of its outstanding bonds issued in 2007 to reduce its ongoing debt service costs. The 2007 bonds were issued to finance the acquisition, construction and improvement of certain school facilities.


Issuance characteristics
  • Refunding
  • Credit enhanced
  • Contains callable maturities
  • Federally tax exempt
  • General Obligation
  • Negotiated sale

About this bond issuance

  • Purpose

    Community Facilities District No. 95-1 of the Del Mar Union School District Series 2017 Special Tax Refunding Bonds Proceeds of the 2017 Bonds will be used primarily to defease the outstanding special tax bonds of the Community Facilities District captioned "$19,955,000 Community Facilities District No. 95-1 of the Del Mar Union School District Series 2007 Special Tax Bonds" (the "2007 Bonds") on the date of delivery of the 2017 Bonds, and to redeem the outstanding 2007 Bonds on September 1, 2017.

  • Obligor

    Del Mar Union School District

  • Issuer

    Del Mar Union School District

  • Authority

    The 2017 Bonds are issued under the Act, the Resolution of Issuance and the Fiscal Agent Agreement. Under the Resolution of Issuance, the Board authorized the issuance of the 2017 Bonds in a maximum principal amount of $17,000,000.

  • Security

    The Board annually levies special taxes on real property in the Community Facilities District (the "Special Taxes") in accordance with the Rate and Method of Apportionment of Special Taxes for Community Facilities District No. 95-1 of the Del Mar Union School District (the "Rate and Method"). The 2017 Bonds are secured by and payable from a first pledge of the net proceeds of the Special Taxes (as more particularly defined in the Fiscal Agent Agreement and as set out herein, the "Net Taxes"). The 2017 Bonds will be additionally secured by certain funds and accounts established and held under the Fiscal Agent Agreement. See "SECURITY FOR THE 2017 BONDS."

  • Sale conditions

    Secondary offering. Bonds are subject to price changes and availability.

Ratings

Issuance credit ratings

A+

S&P

Moody's

Fitch

Financing team

Neighborly Securities
Neighborly is a market participant on this issuance.
Municipal Advisors
Fieldman Rolapp & Associates
Bond Counsel
Bowie Arneson Wiles
Paying Agent
MUFG Union Bank NA