Featured Municipal Bond in the Market, Week of 09/26/2016: North Carolina General Obligation Bonds – $149 Million – County of Mecklenburg
This week’s featured bond comes from the State of North Carolina. The County of Mecklenburg is scheduled to issue $149 million in general obligation bonds the week of September 26, 2016. These bonds are scheduled to be issued as a single series. The intended purpose of the bonds is to refund general obligation public improvement bonds 2009B and general obligation refunding bonds 2009C. They are secured by a pledge of faith and credit and taxing power of the county, including ad valorem property taxes not limited in rate or amount. These details and more on purposes, security, and other matters pertaining to these North Carolina general obligation bonds can the found in the official statement, provided by MuniOS.
The County of Mecklenburg is dominated by the Charlotte-Concord-Gastonia, NC-SC Metropolitan Area, which as of July 2016 has an unemployment rate of 4.8%, which is 0.8% lower than at the same time in 2015, and 0.1% lower than the national rate.
Provided at left is a quick snapshot of financial characteristics of Mecklenburg County, along with the medians for other counties, courtesy of Merritt Research Services, LLC. Merritt has many of the sector medians publicly available and regularly updated on their Benchmark Central page. (Merritt believes the data to be reliable but does not make any representations as to its accuracy or completeness). In addition to the Merritt information related to the featured bond, more information can be found on our municipal bond calendar, city, state, and county pages, and our employment database. These facts and numbers are for informational purposes, and should not be considered an official disclosure for potential investors. Investors should consult the official statement. None of the information provided should be construed as a recommendation by MuniNet Guide, MuniNet LLC, Merritt Research Services LLC, or any of their employees. Information and analysis is for informational purposes only.