Randolph County, Ind., soliciting consents for 2005 refunding bonds

By Wendy Van Sickle

Columbus, Ohio, Jan. 12 – The Randolph County Building Corp. of Indiana is soliciting consents for its $5.67 million first mortgage refunding bonds, series 2005, according to a notice.

The bonds were marketed and sold under a preliminary official statement dated Oct. 27, 2005, which called for those bonds maturing on or after July 15, 2016, to be redeemable at par plus accrued interest without premium on any date starting Jan. 15, 2016. The final pricing wire from the sale of the bonds also gave Jan. 15, 2016, as the first call date without premium, according to the notice.

However, the call provision was omitted from the bonds’ Nov. 1, 2005, mortgage and trust indenture due to scrivener’s error, the notice states.

The issuer proposes a supplement to the trust indenture to clarify that the bonds are subject to optional indenture as specified by preliminary official statement.

Written consent from the majority of the outstanding principal amount of bondholders is required to enact the proposed supplement.

The affected bonds have the Cusip numbers 752554CC7, 752554CD5, 752554CE3, 752554CFO, 752554CG8, 752554CH6, 752554CJ2, 752554CK9, 752554CL7 and 752554CM5.

Holders who consent to the measure will receive a consent fee of $10 per $1,000 principal amount of notes.

The solicitation will end at 5 p.m. ET on Feb. 1.

Scott Peck of Faegre Baker Daniels LLP (317 237-1075) is acting as bond counsel for the issuer.

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