Published on 11/17/2014 in the Prospect News Municipals Daily.
New Issue: Skagit County, Wash., prices $52.7 million of limited tax G.O. bonds
By Sheri Kasprzak
New York, Nov. 17 – Skagit County, Wash., priced $52.7 million of series 2014 limited tax general obligation bonds, according to a pricing sheet.
The bonds (Aa3) were sold competitively.
The bonds are due 2017 to 2035 with term bonds due in 2037 and 2041. The serial coupons range from 3.625% to 5% with 0.78% to 3.83% yields. The 2037 bonds have a 4% coupon priced at 100.82 to yield 3.9% and the 2041 bonds have a 4% coupon priced at par.
Proceeds will be used to acquire a building for county use, as well as to construct, equip and furnish a new county jail.
| Issuer: | Skagit County, Wash.
|
| Issue: | Series 2014 limited tax general obligation bonds
|
| Amount: | $52.7 million
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| Type: | Competitive
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| Rating: | Moody’s: Aa3
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| Pricing date: | Nov. 12
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| Settlement date: | Dec. 3
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| Amount | Maturity | Type | Coupon | Price | Yield
|
| $1.15 million | 2017 | Serial | 4% | 109.512 | 0.78%
|
| $1,225,000 | 2018 | Serial | 4% | 111.635 | 1.02%
|
| $1.28 million | 2019 | Serial | 4% | 112.654 | 1.37%
|
| $1.33 million | 2020 | Serial | 5% | 118.543 | 1.73%
|
| $1,395,000 | 2021 | Serial | 5% | 119.635 | 1.98%
|
| $1.46 million | 2022 | Serial | 5% | 119.856 | 2.27%
|
| $1.54 million | 2023 | Serial | 5% | 120.741 | 2.42%
|
| $1,615,000 | 2024 | Serial | 5% | 121.691 | 2.53%
|
| $1,695,000 | 2025 | Serial | 5% | 121.003 | 2.60%
|
| $1.78 million | 2026 | Serial | 5% | 119.932 | 2.71%
|
| $1,865,000 | 2027 | Serial | 5% | 118.967 | 2.81%
|
| $1,965,000 | 2028 | Serial | 5% | 118.393 | 2.87%
|
| $2.06 million | 2029 | Serial | 5% | 118.107 | 2.90%
|
| $2,165,000 | 2030 | Serial | 5% | 117.632 | 2.95%
|
| $2.27 million | 2031 | Serial | 5% | 117.16 | 3.00%
|
| $2,385,000 | 2032 | Serial | 3.625% | 99.28 | 3.68%
|
| $2.47 million | 2033 | Serial | 3.75% | 100 | 3.75%
|
| $2,565,000 | 2034 | Serial | 3.75% | 99.303 | 3.80%
|
| $2,595,000 | 2035 | Serial | 4% | 101.4 | 3.83%
|
| $5,505,000 | 2037 | Term | 4% | 100.82 | 3.90%
|
| $12,385,000 | 2041 | Term | 4% | 100 | 4.00%
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