By Sheri Kasprzak
New York, June 8 - The Hudsonville Public Schools of Michigan sold $79.85 million of series 2011 unlimited tax school building and site general obligation bonds, said a pricing sheet.
The bonds were sold through senior manager Fifth Third Securities Inc. with The Huntington Investment Co. and Stifel, Nicolaus & Co. Inc. as the co-managers.
The bonds are due 2012 to 2030 with term bonds due in 2033, 2036 and 2041. The serial coupons range from 2% to 5.25%. The 2033 bonds have a 5% coupon priced at par. The 2036 bonds have a 5% coupon priced at 98.871, and the 2041 bonds have a 5.25% coupon priced at 101.202.
Proceeds will be used to construct, equip and furnish a new high school, auditorium, pool, elementary school and transportation facility building, as well as to renovate and repair existing school facilities.
| Issuer: | Hudsonville Public Schools
|
| Issue: | Series 2011 unlimited tax school building and site general obligation bonds
|
| Amount: | $79.85 million
|
| Type: | Negotiated
|
| Underwriters: | Fifth Third Securities Inc. (lead), The Huntington Investment Co. and Stifel, Nicolaus & Co. Inc. (co-managers)
|
| Pricing date: | June 8
|
| Settlement date: | June 28
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.36 million | 2012 | Serial | 3% | 101.926
|
| $1.375 million | 2013 | Serial | 3% | 103.286
|
| $1.415 million | 2014 | Serial | 2% | 101.301
|
| $1.44 million | 2015 | Serial | 3% | 104.395
|
| $1.485 million | 2016 | Serial | 2.25% | 101.1
|
| $1.52 million | 2017 | Serial | 5% | 114.031
|
| $1.595 million | 2018 | Serial | 5% | 113.607
|
| $1.675 million | 2019 | Serial | 5% | 112.761
|
| $1.76 million | 2020 | Serial | 5% | 112.206
|
| $1.845 million | 2021 | Serial | 5% | 111.862
|
| $1.94 million | 2022 | Serial | 5% | 110.67
|
| $2.035 million | 2023 | Serial | 5% | 109.75
|
| $2.135 million | 2024 | Serial | 5% | 108.494
|
| $2.245 million | 2025 | Serial | 5.25% | 110.82
|
| $2.36 million | 2026 | Serial | 4.25% | 98.052
|
| $2.46 million | 2027 | Serial | 5.25% | 109.019
|
| $2.59 million | 2028 | Serial | 5.25% | 108.412
|
| $2.725 million | 2029 | Serial | 5.25% | 107.72
|
| $2.87 million | 2030 | Serial | 5.25% | 106.818
|
| $9.52 million | 2033 | Term | 5% | 100
|
| $11.02 million | 2036 | Term | 5% | 98.871
|
| $22.48 million | 2041 | Term | 5.25% | 101.202
|
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