$1,545,000 Fort Bend County Municipal Utility District No
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OFFICIAL STATEMENT DATED DECEMBER 3, 2018 IN THE OPINION OF BOND COUNSEL, INTEREST ON THE BONDS IS EXCLUDABLE FROM GROSS INCOME FOR FEDERAL INCOME TAX PURPOSES UNDER EXISTING LAW, AND INTEREST ON BONDS IS NOT SUBJECT TO THE ALTERNATIVE MINIMUM TAX ON INDIVIDUALS. SEE “TAX MATTERS” FOR A DISCUSSION OF THE OPINION OF BOND COUNSEL. THE BONDS ARE NOT DESIGNATED AS “QUALIFIED TAX-EXEMPT OBLIGATIONS” FOR FINANCIAL INSTITUTIONS. SEE “TAX MATTERS—QUALIFIED TAX-EXEMPT OBLIGATIONS.” Insured Rating (AGM): S&P “AA” (stable outlook) NEW ISSUE-Book-Entry Only Moody’s “A2” (stable outlook) Underlying Rating: Moody’s “Baa1” See “MUNICIPAL BOND RATING” and “MUNICIPAL $1,545,000 BOND INSURANCE” herein. FORT BEND COUNTY MUNICIPAL UTILITY DISTRICT NO. 143 (A political subdivision of the State of Texas located within Fort Bend County) UNLIMITED TAX PARK BONDS SERIES 2019 The bonds described above (the “Bonds”) are obligations solely of Fort Bend County Municipal Utility District No. 143 (the “District”) and are not obligations of the State of Texas, Fort Bend County, the City of Houston, or any entity other than the District. The Bonds, when issued, will constitute valid and legally binding obligations of the District and will be payable from the proceeds of an annual ad valorem tax, without legal limitation as to rate or amount, levied against taxable property within the District. THE BONDS ARE SUBJECT TO INVESTMENT CONSIDERATIONS DESCRIBED HEREIN. See “INVESTMENT CONSIDERATIONS.” Dated Date: January 1, 2019 Due: September 1, as shown below Principal of the Bonds is payable at maturity or earlier redemption at the principal payment office of the paying agent/registrar, initially The Bank of New York Mellon Trust Company, N.A., Dallas, Texas (the “Paying Agent/Registrar”) upon surrender of the Bonds for payment. Interest on the Bonds accrues from January 1, 2019, and is payable each March 1 and September 1, commencing September 1, 2019, until maturity or prior redemption. The Bonds will be issued only in fully registered form. The Bonds will be issued in denominations of $5,000 each or integral multiples thereof. The Bonds are subject to redemption prior to their maturity, as shown below. The Bonds will be registered in the name of Cede & Co., as nominee for The Depository Trust Company, New York, New York (“DTC”), which will act as securities depository for the Bonds. Beneficial owners of the Bonds will not receive physical certificates representing the Bonds, but will receive a credit balance on the books of the nominees of such beneficial owners. So long as Cede & Co. is the Registered Owner of the Bonds, the principal of and interest on the Bonds will be paid by the Paying Agent/Registrar directly to DTC, which will, in turn, remit such principal and interest to its participants for subsequent disbursement to the beneficial owners of the Bonds. See “BOOK-ENTRY-ONLY SYSTEM.” The scheduled payment of principal of and interest on the Bonds when due will be guaranteed under a municipal bond insurance policy to be issued concurrently with the delivery of the Bonds by ASSURED GUARANTY MUNICIPAL CORP. See “MUNICIPAL BOND INSURANCE” herein. MATURITY SCHEDULE Initial Initial Principal MaturityCUSIP Interest Reoffering Principal Maturity CUSIP Interest Reoffering Amount (September 1) Number(b) Rate Yield(c) Amount (September 1) Number(b) Rate Yield(c) $ 50,000 2019 34681V PZ3 5.500 % 2.05 %$ 50,000 2026 (a) 34681V QG4 3.000 % 3.15 % 50,000 2020 34681V QA7 5.500 % 2.20 % 60,000 2027 (a) 34681V QH2 3.000 % 3.35 % 50,000 2021 34681V QB5 5.500 % 2.35 % 60,000 2028 (a) 34681V QJ8 3.250 % 3.55 % 50,000 2022 34681V QC3 5.500 % 2.50 % 60,000 2029 (a) 34681V QK5 3.375 % 3.70 % 50,000 2023 34681V QD1 5.500 % 2.65 % 65,000 2030 (a) 34681V QL3 3.500 % 3.80 % 50,000 2024 34681V QE9 5.500 % 2.80 % 75,000 2031 (a) 34681V QM1 3.625 % 3.90 % 50,000 2025 (a) 34681V QF6 3.000 % 3.00 % 75,000 2032 (a) 34681V QN9 3.750 % 3.95 % $150,000 Term Bonds due September 1, 2034 (a), 34681V QQ2 (b), 3.875% Interest Rate, 4.00% Yield (c) $150,000 Term Bonds due September 1, 2036 (a), 34681V QS8 (b), 4.000% Interest Rate, 4.04% Yield (c) $150,000 Term Bonds due September 1, 2038 (a), 34681V QU3 (b), 4.000% Interest Rate, 4.08% Yield (c) $150,000 Term Bonds due September 1, 2040 (a), 34681V QW9 (b), 4.000% Interest Rate, 4.12% Yield (c) $150,000 Term Bonds due September 1, 2042 (a), 34681V QY5 (b), 4.000% Interest Rate, 4.14% Yield (c) (a) Bonds maturing on or after September 1, 2025, are subject to redemption at the option of the District prior to their maturity dates in whole, or from time to time in part, on September 1, 2024, or on any date thereafter at a price of par value plus unpaid accrued interest from the most recent Interest Payment Date (as herein defined) to the date fixed for redemption. The Term Bonds (as defined herein) are also subject to mandatory sinking fund redemption as more fully described herein. See “THE BONDS—Redemption Provisions.” (b) CUSIP Numbers have been assigned to the Bonds by CUSIP Service Bureau and are included solely for the convenience of the purchasers of the Bonds. Neither the District nor the Underwriter shall be responsible for the selection or correctness of the CUSIP Numbers set forth herein. (c) Initial yield represents the initial offering yield to the public, which has been established by the Underwriter (as herein defined) for offers to the public and which subsequently may be changed. The Bonds are offered by the Underwriter subject to prior sale, when, as and if issued by the District and accepted by the respective Underwriter, subject, among other things, to the approval of the Bonds by the Attorney General of Texas and the approval of certain legal matters by Allen Boone Humphries Robinson LLP, Houston, Texas, Bond Counsel. See “LEGAL MATTERS.” Delivery of the Bonds in book-entry form through the facilities of DTC is expected on or about January 10, 2019. TABLE OF CONTENTS MATURITY SCHEDULE ............................................................. 1 Exemptions ................................................................................ 29 USE OF INFORMATION IN OFFICIAL STATEMENT .......... 3 Additional Penalties ................................................................... 29 SALE AND DISTRIBUTION OF THE BONDS ......................... 4 Historical Tax Collections ......................................................... 29 Award of the Bonds ..................................................................... 4 Tax Roll Information ................................................................. 30 Prices and Marketability .............................................................. 4 Principal Taxpayers ................................................................... 30 Securities Laws ............................................................................ 4 Tax Adequacy for Debt Service ................................................. 31 OFFICIAL STATEMENT SUMMARY ....................................... 5 TAXING PROCEDURES ........................................................... 31 SELECTED FINANCIAL INFORMATION (UNAUDITED) ... 9 Authority to Levy Taxes ............................................................ 31 THE BONDS ................................................................................. 10 Property Tax Code and County-Wide Appraisal District ........... 31 Description ................................................................................. 10 Property Subject to Taxation by the District .............................. 31 Method of Payment of Principal and Interest ............................. 10 Tax Abatement ........................................................................... 32 Source of Payment ..................................................................... 10 Valuation of Property for Taxation ............................................ 32 Funds .......................................................................................... 11 District and Taxpayer Remedies ................................................ 33 Redemption Provisions .............................................................. 11 Levy and Collection of Taxes .................................................... 33 Authority for Issuance ................................................................ 12 Rollback of Operation and Maintenance Tax Rate .................... 34 Registration and Transfer ........................................................... 12 District’s Rights in the Event of Tax Delinquencies .................. 34 Lost, Stolen or Destroyed Bonds ................................................ 12 The Effect of FIRREA on Tax Collections of the District ......... 34 Replacement of Paying Agent/Registrar .................................... 13 INVESTMENT CONSIDERATIONS ........................................ 35 Issuance of Additional Debt ....................................................... 13 Recent Extreme Weather Events; Hurricane Harvey ................. 35 Annexation by the City of Houston ............................................ 13 Specific Flood Type Risks ......................................................... 35 Strategic Partnership .................................................................. 14 General ...................................................................................... 35 Consolidation ............................................................................. 14 Credit Markets and Liquidity in the Financial