KENT STATE UNIVERSITY (A State University of Ohio) GENERAL RECEIPTS BONDS, SERIES 2012A
NEW ISSUE; BOOK-ENTRY ONLY Ratings: Moody’s: “Aa3” S&P: “A+” See Ratings. In the opinion of Roetzel & Andress, A Legal Professional Association, Bond Counsel, under existing law (i) assuming compliance with certain covenants and the accuracy of certain representations, interest on the Series 2012A Bonds is excluded from gross income for federal income tax purposes and is not an item of tax preference for purposes of the federal alternative minimum tax imposed on individuals and corporations; and (ii) the interest on, and any profit made on the sale, exchange or other disposition of, the Series 2012A Bonds are exempt from the Ohio personal income tax, the Ohio commercial activity tax, the net income base of the Ohio corporate franchise tax, and municipal, school district and joint economic development district income taxes in Ohio. For a more complete discussion of tax aspects, see Tax Matters herein. OFFICIAL STATEMENT $170,000,000 KENT STATE UNIVERSITY (A State University of Ohio) GENERAL RECEIPTS BONDS, SERIES 2012A Dated: Date of Issuance Due: May 1, as shown on the inside cover The Bonds. The $170,000,000 General Receipts Bonds, Series 2012A (the “Series 2012A Bonds”) are special obligations issued by the University pursuant to a Trust Agreement, as supplemented by a Seventeenth Supplemental Trust Agreement, each between the University and the Trustee, to pay costs of certain University Facilities. See Project and Plan of Financing. Principal, interest and any premium payable on the Series 2012A Bonds, and on other General Receipts Bonds, are payable solely from the General Receipts of the University and the Special Funds, as defined in and subject to the provisions of a Trust Agreement.
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