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This document outlines the issuance of Nipomo Community Services District Assessment District No. 2020-1 (Blacklake Sewer Consolidation) Limited Obligation Improvement Bonds, Series 2020. The bonds, with an estimated principal amount of $11,250,000 and a final maturity on September 2, 2050, are issued to finance public capital facilities for combining the Town and Blacklake sewer systems. They are secured by unpaid assessments on properties within the Assessment District, totaling $12,131,632.58. The Fiscal Agent Agreement dated July 1, 2020, governs the bond terms, including a reserve fund and covenants for foreclosure in case of delinquency. The project aims to reduce sewer costs for the Blacklake community.
Effective Date
Jul 1, 2020
Expires
Effective: Jul 1, 2020
This document outlines the issuance of Nipomo Community Services District Assessment District No. 2020-1 (Blacklake Sewer Consolidation) Limited Obligation Improvement Bonds, Series 2020. The bonds, with an estimated principal amount of $11,250,000 and a final maturity on September 2, 2050, are issued to finance public capital facilities for combining the Town and Blacklake sewer systems. They are secured by unpaid assessments on properties within the Assessment District, totaling $12,131,632.58. The Fiscal Agent Agreement dated July 1, 2020, governs the bond terms, including a reserve fund and covenants for foreclosure in case of delinquency. The project aims to reduce sewer costs for the Blacklake community.
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