Maturity Schedule
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OFFICIAL STATEMENT DATED OCTOBER 22, 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 THE 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 “QUALIFIED TAX-EXEMPT OBLIGATIONS” FOR FINANCIAL INSTITUTIONS. NEW ISSUE – Book-Entry-Only Insured Rating (AGM): S&P “AA” (stable outlook) Underlying Rating: S&P “BBB-” See “MUNICIPAL BOND RATING” and “MUNICIPAL BOND INSURANCE” herein. $5,570,000 FORT BEND COUNTY MUNICIPAL UTILITY DISTRICT NO. 169 (A political subdivision of the State of Texas located within Fort Bend County) CONTRACT REVENUE BONDS (ROAD FACILITIES) SERIES 2018 The bonds described above (the “Bonds”) are special obligations of Fort Bend County Municipal Utility District No. 169 (the “Master District” or the “District”) payable solely from and to the extent of payments required to be made to the Trustee (as herein defined) by the District and Fort Bend County Municipal Utility District Nos. 170, 171, 172 and 173 (the “MUD Participants”) from proceeds of an unlimited annual ad valorem tax, levied by each MUD Participant or from other revenues available to such MUD Participant (the “Road Contract Payment(s)”). Payment of Road Contract Payments by MUD Participants and use of such proceeds by the Master District to pay debt service on the Bonds is governed by the Contract for Financing, Operation, and Maintenance of Regional Facilities, as amended (the “Master District Contract”) as described more fully herein under “MASTER DISTRICT CONTRACT.” The Bonds are obligations of the Master District and are not obligations of the State of Texas, Fort Bend County, the City of Fulshear, any of the MUD Participants (except the Master District), or any entity other than the Master District. Dated: November 1, 2018 Due: December 1, as shown below The Bonds will be issued in fully registered form only, in denominations of $5,000 or any integral multiple of $5,000. Principal of the Bonds will be payable upon presentation of the Bonds at the principal payment office of the paying agent/registrar, initially The Bank of New York Mellon Trust Company, N.A. (the “Paying Agent/Registrar” or “Paying Agent”), in Houston, Texas. Interest on the Bonds accrues from November 1, 2018, and is payable June 1, 2019, and each December 1 and June 1 thereafter until the earlier of maturity or redemption. Interest will be calculated on the basis of a 360 day year of twelve 30 day months. The Bonds will be initially registered and delivered only in the name of Cede & Co., as nominee for The Depository Trust Company, New York, New York (“DTC”), which will act as securities depository for the Bonds. Beneficial owners of the Bonds will not receive physical certificates representing the Bonds, but will receive a credit balance on the books of the nominees of such beneficial owners. So long as Cede & Co. is the registered owner of the Bonds, the principal of and interest on the Bonds will be paid by the Paying Agent directly to DTC, which will, in turn, remit such principal and interest to its participants for subsequent disbursement to the beneficial owners of the Bonds as described herein. See “BOOK-ENTRY-ONLY SYSTEM.” The scheduled payment of principal of and interest on the Bonds when due will be guaranteed under a municipal bond insurance policy to be issued concurrently with the delivery of the Bonds by ASSURED GUARANTY MUNICIPAL CORP. See “MUNICIPAL BOND INSURANCE” herein. MATURITY SCHEDULE Initial Initial Due Principal Interest Reoffering CUSIP Due Principal Interest Reoffering CUSIP (December 1) Amount Rate Yield (c) Number (b) (December 1) Amount Rate Yield (c) Number (b) 2019$ 220,000 5.500 % 2.350 % 34682H NL6 2025 220,000 (a) 3.000 % 3.200 % 34682H NS1 2020 220,000 5.500 2.450 34682H NM4 2026 220,000 (a) 3.125 3.400 34682H NT9 2021 220,000 5.000 2.600 34682H NN2 2027 220,000 (a) 3.250 3.550 34682H NU6 2022 220,000 5.000 2.750 34682H NP7 2028 220,000 (a) 3.500 3.700 34682H NV4 2023 220,000 5.000 2.850 34682H NQ5 2029 220,000 (a) 3.500 3.800 34682H NW2 2024 220,000 3.000 3.000 34682H NR3 $675,000 Term Bonds due December 1, 2032 (a), 34682H NZ5 (b), 3.750% Interest Rate, 4.000% Yield (c) $675,000 Term Bonds due December 1, 2035 (a), 34682H PC4 (b), 4.000% Interest Rate, 4.100% Yield (c) $675,000 Term Bonds due December 1, 2038 (a), 34682H PF7 (b), 4.000% Interest Rate, 4.200% Yield (c) $450,000 Term Bonds due December 1, 2040 (a), 34682H PH3 (b), 4.000% Interest Rate, 4.230% Yield (c) $675,000 Term Bonds due December 1, 2043 (a), 34682H PL4 (b), 4.125% Interest Rate, 4.250% Yield (c) (a) Bonds maturing on or after December 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 December 1, 2024, or on any date thereafter at a price of par plus accrued interest on the principal amounts called for redemption 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 Global Services, managed by S&P Global Market Intelligence on behalf of the American Bankers Association, 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 reoffering 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 may be subsequently changed by the Underwriter and is the sole responsibility of the Underwriter. The initial yields indicated above represent the lower of the yields resulting when priced to maturity or to the first call date. Accrued interest from November 1, 2018 to the date fixed for delivery is to be added to the price. The Bonds, when issued, will constitute valid and legally binding special obligations of the District. THE BONDS ARE SUBJECT TO SPECIAL INVESTMENT CONSIDERATIONS DESCRIBED HEREIN. Bond purchasers are encouraged to read this OFFICIAL STATEMENT prior to making an investment decision, particularly the section captioned “INVESTMENT CONSIDERATIONS.” The Bonds are offered, when, as and if issued by the District and accepted by the 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. Delivery of the Bonds in book-entry form through the facilities of DTC is expected on or about November 27, 2018, in Houston, Texas. TABLE OF CONTENTS OFFICIAL STATEMENT SUMMARY .......................................................................................................................................................... 3 SELECTED FINANCIAL INFORMATION (UNAUDITED) ..................................................................................................................... 10 THE BONDS .................................................................................................................................................................................................... 14 BOOK-ENTRY-ONLY SYSTEM .................................................................................................................................................................. 20 THE INDENTURE OF TRUST ...................................................................................................................................................................... 21 USE AND DISTRIBUTION OF BOND PROCEEDS .................................................................................................................................. 24 THE MUD PARTICIPANTS .......................................................................................................................................................................... 25 MASTER DISTRICT CONTRACT ............................................................................................................................................................... 28 THE DISTRICT AND THE SERVICE AREA .............................................................................................................................................. 30 MANAGEMENT OF THE DISTRICT ............................................................................................................................................................. 32 THE DEVELOPERS ......................................................................................................................................................................................... 33 THE SYSTEM .................................................................................................................................................................................................. 34 FINANCIAL INFORMATION CONCERNING THE MASTER DISTRICT AND THE MUD PARTICIPANTS (UNAUDITED) ................................................................................................................................................................................................ 37 TAX DATA .....................................................................................................................................................................................................