Vermont Municipal Bond Bank 2018
Series 2 Bonds (Local Investment Bonds)

Vermont Municipal Bond Bank

With municipal bonds, invest in a diverse set of impactful projects: from financing a new fire truck to energy efficiency upgrades. Vermont 2018 bonds are being issued in $1,000 denominations (instead of the traditional $5000) so they are more accessible for more Vermont residents. Please review the offering documents under "Documents" tab for full details.


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

About this bond issuance

  • Purpose

    Estimated impacts for projects capitalized by the 2018 Bonds include:

    • More than 11,000 linear feet of streetscape improvements, including multi-purpose paths and sidewalk improvements
    • More than 600,000 square feet of facilities upgraded
    • More than 360,000 kWH of energy efficiency savings and/or renewable energy produced
    • More than 6,700 student seats enhanced
    • One pocket park
    • One new fire truck
    • More than 95,000 people directly served
    • More than 70 new construction jobs

  • Issuer

    Vermont Municipal Bond Bank

  • Authority

    The 2018 Bonds are being issued pursuant to the Vermont Municipal Bond Bank Law, being Public Act No. 216 of the Laws of Vermont of the 1969 Adjourned Session of the Vermont General Assembly, as amended (the "Act"), the Bank's General Bond Resolution adopted on May 3, 1988 (the "General Resolution") and the Series Resolution authorizing the issuance of the 2018 Bonds (the "Series Resolution"), adopted June 11, 2018.

  • Security

    The 2018 Bonds are general obligations of the Bank and are secured on a parity with other bonds issued and to be issued (collectively, the "Bonds") under the Bank's General Resolution (defined herein).  The Bonds are secured by a pledge of the municipal bonds issued by Governmental Units and purchased by the Bank ("Municipal Bonds") and the amounts required to be paid by such Governmental Units to the Bank pursuant to loan agreements for principal and interest on the Municipal Bonds ("Municipal Bonds Payments").  The Bonds are further secured under the Act by an intercept by the State Treasurer of State funding to any Governmental Units that are in default on their Municipal Bonds Payments.  The Bonds are further secured by the Reserve Fund (defined herein).  If there is a draw on the Reserve Fund that reduces the amount therein below the Required Debt Service Reserve, the State is legally authorized, but not legally obligated, to appropriate annually the amount required to replenish the Reserve Fund.

  • Special attributes

    Priority of orders:

    1.Vermont Retail

    2.Vermont Professional Retail

    3 National Retail

    4.Group Net (Except if an investor is affiliated with a syndicate member in which case the  economics will be reallocated among the other managers.  Please contact the  Senior Manager.)

    5.Member  

    Retail Definition: A "retail" order is defined as an order placed for the account of an individual, bank trust or investment advisor, with a maximum of $500,000 per account. Retail orders do not include bank portfolios, insurance companies, mutual funds or municipalities. Zip codes are required at the time of order entry.

  • Net Roadshow

    Net roadshow available at http://roadshow.munios.com/rs/9ftbn

Ratings

Ratings

AA+

S&P

Aa1

Moody's

Fitch

Financing team

Neighborly Securities
Neighborly is a selling group member on this issuance.
Municipal Advisors
Bond Counsel
Paying Agent