Ingham County Building Authority
PRELIMINARY OFFICIAL STATEMENT DATED: APRIL 24, 2017 New Issue Rating: S&P Global Ratings:†* ___ Book-Entry-Only In the opinion of Dickinson Wright PLLC, Bond Counsel, subject to compliance with certain covenants, under existing law (1) the interest on the Bonds is excluded from gross income for federal income tax purposes except as described under “TAX MATTERS” herein, and (2) the Bonds and the interest thereon are exempt from taxation by the State of Michigan and by any other taxing authority within the State of Michigan, except estate taxes and taxes on gains realized from the sale, payment or other disposition thereof. THE BONDS WILL NOT BE DESIGNATED AS “QUALIFIED TAX-EXEMPT OBLIGATIONS” AS DESCRIBED IN SECTION 265(b)(3)(B) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. $10,000,000** INGHAM COUNTY BUILDING AUTHORITY County of Ingham, State of Michigan Building Authority Bonds (Community Mental Health Building), Series 2017 (Limited Tax General Obligation) Date of Sale: May 4, 2017 Time: 11:00 AM, EDT PURPOSE AND SECURITY: The Building Authority Bonds (Community Mental Health Building), Series 2017 (the “Bonds”) are being issued by the Ingham County Building Authority, County of Ingham, State of Michigan (the “Authority”), pursuant to the authorization contained in Act 31, Public Acts of Michigan, 1948 (First Extra Session), as amended, for the purpose of defraying part of the cost of renovating, constructing, furnishing, equipping and improving the existing Community Mental Health Building located at 812 East Jolly Road, Lansing, Michigan and acquiring, constructing, furnishing and equipping an approximately 42,000 square foot addition thereto, together with associated parking, in the County of Ingham, State of Michigan (the “County”) for lease to the County pursuant to a limited tax Full Faith and Credit General Obligation Contract of Lease (herein the “Lease”).
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