Fitch Rates Lee's Summit (MO) IDA (John Knox Village Ob Grp) $32.88MM Rfd Bonds 'AAApre'.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Fitch Ratings assigns a rating of 'AAApre' to the Industrial Development Authority of the City of Lee's Summit, Missouri Lee's Summit is a city in Jackson County and Cass County, Missouri. In 2007, the city had a total population of 81,913[1]., making it the seventh-largest city in the Kansas City Metropolitan Area and the sixth-largest city in Missouri. health facilities revenue bonds (John Knox Village), consisting of the: --$8,330,000 series 1995; --$10,300,000 series 1999; --$14,250,000 series 2002. The bonds were refunded on May 24, 2007 with proceeds of the Authority's senior living facilities revenue bonds (John Knox Village Obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. Group), series 2007A. The series 1995 bonds will be redeemed on Aug. 15, 2007 at par. The series 1999 refunded bonds will be redeemed on Aug. 15, 2009 at 101%. The series 2002 refunded bonds will be redeemed on Aug. 15, 2012 at 101%. The Escrow Agent, The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. Trust Company, will hold escrowed funds and securities in a segregated irrevocable trust fund for the benefit of refunded bondholders. The escrow agent has been directed to apply monies in the account solely for the purpose of paying principal interest and any redemption premium on refunded bonds, when due. The 'AAApre' rating reflects this pledge and that all funds have been invested in direct obligations of the U.S. In addition, any future substitution of investments is also limited to direct non-callable obligations of the U.S. Chris D. Berens, CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. , verified the mathematical accuracy of debt service computations on the refunded bonds and income from the escrowed funds and securities pledged to those bonds, contained in schedules provided to them by Ziegler Capital Market Group, underwriter for the refunding bonds. In the opinion of Chris D. Berens, the anticipated receipts from cash and securities deposited in the escrow fund will be sufficient for the timely payment of the principal, interest and any applicable redemption premium on the refunded bonds. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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