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To be contacted with more information


, 2/27/2013 – City of West Sacramento CFD No. 20 – $10,310,000

or call (877) 68-ALAMO

 

$10,310,000

Tax-Exempt / Non-Rated
City of West Sacramento
Community Facilities District No. 20

(Bridgeway Lakes II) Special Tax Refunding Bonds
Series 2013

 Purpose: Proceeds from the bonds will be used to refinance the district’s Series 2005 bonds, for the Bridgeway Lakes II development.  The district includes 125 acres, located within the Southport area of the City, south of Marshall Road, west of Jefferson Boulevard, along Southport Parkway, planned for 486 single family residential units, and is 100% built out.  The district was developed by both Shea Homes and Meritage Homes.  The bonds are secured by special taxes levied on taxable property in the district, and the reserve fund will be established as the lesser of MADS, 125% of ADS, or 10% of the original principal.

Underwriter: Westhoff, Cone & Holmstedt
Co-Manager: Alamo Capital

Link to Download POS

Expected Schedule

Release Price Thoughts: Monday, February 25

Order Period: Wednesday, February 27 8am-10am

Expected Structure
Maturities 2013-2023, 2025, 2028, 2032, 2035

Interest payment dates of March 1 and September 1

2012/13 assessed value:  $119 million

Assessed value-to-lien:  11.5:1

January 2013 delinquency rate:  1.4%

Additional information to be provided as it becomes available or is updated: par amounts, ratings, cusips, prices, yields, availability, postings to EMMA, etc. *Please call for a copy of the Official Statement & rating report/s.  For sophisticated investors only.

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