CITY OF QUINCY, MASSACHUSETTS
$27,000,000 GENERAL OBLIGATION BOND ANTICIPATION NOTES
This Official Statement is provided for the purpose of presenting certain information relating to the City of Quincy, Massachusetts (the “City”) in connection with the sale of an aggregate $27,000,000 principal amount of its General Obligation Bond Anticipation Notes (the “Notes”). The information contained herein has been furnished by the City except information attributed to another governmental agency or official as the source.
Authorization of the Notes and Use of Proceeds
The following sets forth the principal amounts, date of mayoral approval, purposes, and statutory references for the current offering of General Obligation Bond Anticipation Notes:
|This Issue||Total Amount Authorized||Date Approved||Total Notes Outstanding||Purpose||Statutory Authority (M.G.L., as amended)|
|$4,000,000||(1) $10,000,000||12/20/2005 (Order 2005-245)||$10,000,000||(2) District Improvement Financing||Ch. 40Q|
|$16,000,000||(1) $30,000,000||6/5/2007 (Order 2007-107)||$30,000,000||(3) District Improvement Financing||Ch. 40Q|
|$7,000,000||$59,000,000||10/4/2016, amended 12/20/2016 (Order 2016-202)||$0||Sterling Middle School Construction (planning)||Ch. 70B|
(1) See discussion relative to the City’s redevelopment of Quincy Center under “Industry and Commerce” and “Tax Increment Financing for Development Districts” herein.
(2) $4 million maturing January 20, 2017 (to be refunded with the proceeds to this issue), $3 million maturing June 16, 2017 and $3 million maturing December 22, 2017.
(3) $26 million maturing January 20, 2017 ($10 million to be permanently financed with bond proceeds to be issued concurrent with the Notes, $16 million to be refunded with the proceeds of this issue) and $4 million maturing July 14, 2017.