The State's Credit Fundamentals Continue to Improve
Tax-Exempt Series of April 2019B Refunding
Use of
Proceeds
Security
Interest
Payment
Dates
Financing Overview
The Bonds are being issued to refund for economic
savings certain outstanding general obligation
bonds.
The Bonds are direct, general obligations of the State
and, pursuant to Section 9(a) of Article IX of the
Illinois Constitution and the General Obligation
Bond Act of the State of Illinois, as amended (the
"Bond Act"), the full faith and credit of the State is
pledged for the punctual payment of interest on all
bonds issued under the Bond Act, including the
Bonds, as it comes due and for the punctual payment
of the principal of all bonds issued under the Bond
Act, including the Bonds, at maturity, or on any
earlier redemption date, and redemption premium, if
any. These provisions are irrepealable until all
bonds issued under the Bond Act, including the
Bonds, are paid in full as to both principal and
interest.
March 1 and September 1, commencing September 1,
2019
Amortization*
September 1
Series A
5,500,000
2020
2021
16,610,000
2022
16,635,000
2023
16,660,000
2024
16,045,000
2025
23,830,000
2026
6,545,000
2027
42,995,000
2028
5,570,000
Total
$151,990,000
27
Mode
Fixed Rate Bonds
*Preliminary, subject to change.
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OF ILLINO
AUG. 26 1818View entire presentation