Summary
The 2019 Bond Issuance Documents outline the terms and financial structuring behind the issuance of Special Tax Revenue Refunding Bonds, Series of 2019 and 2020. The 2019 Bonds were used to refund the outstanding 2009 Bonds, while the 2020 Bonds facilitated a forward delivery mechanism for refunding the 2010 Bonds. The issuance was secured through an Amended and Restated Indenture of Trust, supplemented multiple times over the years. Funding sources included bond proceeds, debt service reserve funds, and transfers from previous bond series. The bonds were structured as fully registered securities, payable semiannually, and were not subject to acceleration upon default. Additional financial protections included tax compliance measures, rating agency disclosures, and escrow agreements to ensure timely redemption of prior obligations​.