City School District of the City of
Lockport, Niagara County, New York
School District Serial Bonds, 2017

City School District Of The City Of Lockport

Invest in Lockport School District and earn tax-exempt interest! Funds will go toward the financing of the reconstruction and renovation, in part, and the construction of improvements and upgrades to various District buildings and facilities. Bonds are subject to price changes and availability.


Issuance characteristics
  • Contains callable maturities
  • Federally tax exempt
  • General Obligation
  • Competitive sale

About this bond issuance

  • Purpose

    The Bonds are authorized to be issued pursuant to the Constitution and laws of the State, including the Education Law, the Local Finance Law and a bond resolution that was adopted by the Board of Education of the District on March 27, 2013, authorizing the issuance of serial bonds in an amount not to exceed $19,080,000, for the financing of the reconstruction and renovation, in part, and the construction of improvements and upgrades to various District buildings and facilities (and the sites thereof). Proceeds of the Bonds, along with $710,000 of budgetary appropriation, will be used to redeem and retire an outstanding $18,630,000 bond anticipation note of the District that is maturing on August 4, 2017.

  • Obligor

    Lockport City School District

  • Issuer

    Lockport City School District

  • Authority

    The Bonds are authorized to be issued pursuant to the Constitution and laws of the State, including the Education Law, the Local Finance Law and a bond resolution that was adopted by the Board of Education of the District on March 27, 2013, authorizing the issuance of serial bonds in an amount not to exceed $19,080,000, for the financing of the reconstruction and renovation, in part, and the construction of improvements and upgrades to various District buildings and facilities (and the sites thereof). Proceeds of the Bonds, along with $710,000 of budgetary appropriation, will be used to redeem and retire an outstanding $18,630,000 bond anticipation note of the District that is maturing on August 4, 2017.

  • Security

    The Bonds will be general obligations of the District and will contain a pledge of the faith and credit of the District for the payment of the principal thereof and the interest thereon. For the payment of such principal and interest, unless paid from other sources or charges, the District has the power and statutory authorization to levy ad valorem taxes on all taxable real property in the District, without limitation as to rate or amount (subject to certain statutory limitations imposed by the Tax Levy Limitation Law); see "TAX INFORMATION-Tax Levy Limitation Law," in the Preliminary Official Statement.

  • Sale conditions

    Offerings are subject to price changes and availability.

About the issuer

Contact information
Address
130 Beattie Avenue Lockport NY 14094

Ratings

Ratings

S&P

Aa3

Moody's

Fitch

Financing team

Neighborly Securities
Neighborly is a co-manager on this issuance.