Featured Municipal Bond in the Market, Week of 02/20/2017: State of Delaware General Obligation Bonds – $225 Million
This week’s featured bond comes from the State of Delaware. The issued bonds are State of Delaware general obligation bonds in the amount of $225 million the week of February 20, 2017. These general obligations are to be issued as a single, tax-exempt series. The purposes and uses of the bond proceeds are primarily to pay for capital facilities of the State, and other capital projects. Debt service with respect to the bonds will be allocated to various capital facilities.
The bonds are direct obligations of the State of Delaware, and the full faith and credit of the State are pledged. Further details on the purposes, security, and other matters pertaining to these Delaware general obligation bonds can the found in the preliminary official statement, provided by MuniOS.
As of December 2016, the State of Delaware had an unemployment rate of 3.9%, which is 0.4% lower than one year ago, and 0.8% lower than the national rate of 4.7% as of December 2016.
Provided at left is a quick snapshot of financial characteristics of the State of Delaware, as of 06/30/2016, along with the medians for other toll institutions for 2015-2016, 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.