City Of Mission Viejo: Mission Viejo Community Development Financing Authority Lease Revenue Bonds Go On Sale Early Wednesday

Mission Viejo CA

08 December, 2021

9:38 AM

Description

Press release from the City of Mission Viejo: December 7, 2021 As a result of the City's recent approval to issue bonds for the purchase of the Stein Mart property as part of the Core Area Vision Plan, bonds will go on sale to the public at 7 am on Wednesday, December 8.    Mission Viejo has an issuer credit rating of AAA with a bond rating of AA+ from Standard & Poor's. Out of 482 cities in California, Mission Viejo is one of only 34 with a AAA credit rating.   The City of Mission Viejo Community Development Financing Authority Lease Revenue Bonds (Core Area Vision Plan Project Phase 1) Series 2021A (Taxable) and Series 2021B (Tax-Exempt) can be purchased in minimum increments of $5,000 and have been structured with maturities that range from 6 months to 20 years. Due to the nature of the use of the proceeds, a portion of the $18.3 million offering will be tax-exempt (free from State of California and Federal income taxes) and a portion will be exempt from only State of California personal income tax.   Folks interested in investing in the City of Mission Viejo by purchasing the bonds should contact Sara Brown of Stifel, Nicolaus & Company at 415-364-6872. This press release was produced by the City of Mission Viejo. The views expressed here are the author's own.