Developmental & Mental Health Services Providers Acquisition Pool

Bond Series: 2015 Series A and Series B

Closed: August 17, 2015

Bond Size: Series A - $7,040,000; Series B - $182,000

Credit Rating: Aa3, Moody’s Investors Services

Purchaser: Public Placement

Underwriter: Municipal Capital Markets Group

Interest Rate: Fixed Rate

Final Maturity: 2031

Yield: 3.136%

Purpose: The $7.04 million in 2015 Series A bonds will be used to: i) partially refund $6.37 million of the Pool’s 2008-A bonds; ii) refund $1.1 million in direct placed bank financing; iii) make $702,918 in real estate and building improvements; and iv) pay for issuance costs related to the financings.

The $182,000 in 2015 Series B bonds will be used to pay for issuance costs related to the financings.

Project Benefit: In addition to the acquisition of necessary capital assets, the refunding is expected to save CSAC $543,000 and NCSS $647,000, both on a present value basis.