Board of Trustees of the University of Arkansas Various Facility Revenue Bonds (Fayetteville Campus) Refunding Series 2015A
OFFICIAL STATEMENT NEW ISSUE RATING: Moody’s: “Aa2” (stable outlook)* (Book-Entry Only) In the opinion of bond counsel, under existing law, assuming compliance with certain covenants described herein, interest on the Bonds is excludable from gross income for federal income tax purposes, and interest on the Bonds is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals and corporations, provided that with respect to corporations, interest on the Bonds will be taken into account in determining adjusted current earnings for the purpose of computing the federal alternative minimum tax. The Bonds and interest thereon are exempt from all present State, county and municipal taxation in the State of Arkansas (See TAX MATTERS herein.). $70,360,000 BOARD OF TRUSTEES OF THE UNIVERSITY OF ARKANSAS VARIOUS FACILITY REVENUE BONDS (FAYETTEVILLE CAMPUS) REFUNDING SERIES 2015A Dated: Date of Delivery Due: November 1, as shown on the inside cover The Bonds are general obligations only of the Board of Trustees of the University of Arkansas (the “Board”). The Bonds will be secured by a specific pledge of, and payable first from, Pledged Revenues (as hereinafter defined). Neither the faith and credit nor the taxing power of the State of Arkansas are pledged to the payment of the principal of or the interest on the Bonds, and the Bonds are not secured by a mortgage or lien on any lands or buildings of the State of Arkansas or the Board. The Board has no taxing power. The Bonds are being issued for the purpose of (i) refunding certain outstanding indebtedness of the Board previously issued to finance and refinance various improvements on the Fayetteville campus of the University of Arkansas and (ii) paying the costs of issuance of the Bonds.
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