Featured Municipal Bond in the Market, Week of 04/24/2017: City of Atlanta Revenue Bonds (Water & Wastewater Refunding) – $227 Million
This week’s featured bond comes from the State of Georgia. The City of Atlanta is issuing water and wastewater revenue bonds in the amount of $227 million the week of April 24, 2017. The bonds consist of a single series of revenue bonds. The bonds are to be used to refund a part of the City’s Series 2009A water and wastewater revenue bonds. They are secured by a pledge of and lien upon revenues of the water and wastewater system. Further details on the purposes, security, and other matters pertaining to these Atlanta revenue bonds can the found in the preliminary official statement, provided by MuniOS.
The City of Atlanta is central to the Atlanta-Sandy Springs-Roswell, GA Metropolitan Statistical Area. The Atlanta MSA has an unemployment rate of 4.9% as of February 2017, which is 0.1% higher than the national rate for February, and 0.2% lower than at the same time in 2016. The chart below shows the changes in the Atlanta MSA, State of Georgia, and U.S. unemployment rates for the past ten years. MuniNet provides this data and more, easily accessible, for all 50 states and each Metropolitan Statistical Area in the country, in our Employment Database.
Provided at left is a quick snapshot of financial characteristics of the Atlanta Department of Watershed Management Fund, as of 06/30/2016, along with the medians for other U.S. Water & Sewer Utilities, 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.