Featured Municipal Bond in the Market, Week of 06/19/2017: State of Mississippi General Obligation Refunding Bonds – $1.4 Billion
This week’s featured bond comes from the State of Georgia. The State of Georgia is issuing general obligation bonds in the amount of $1.4 billion the week of June 19, 2017. The bonds consist of three series. Series 2017A is $789 million in general obligation bonds split into two tranches; $358 million in Tranche 1, and $431 million in Tranche 2. Series 2017A is determined to be tax-exempt. Series 2017B is $273 million in general obligation, and determined to be federally taxable. Series 2017C is $352 million in tax-exempt general obligation refunding bonds. The detailed purposes of Series 2017A and Series 2017B are as follows:
Series 2017C is to be used to refund previously issued Georgia general obligation bonds from 2007 and 2011. The bonds are direct and general obligations backed by the full faith and credit of the State of Georgia, and the taxing power of the state is pledged. Further details on the purposes, security, tax status, and other matters pertaining to these State of Georgia general obligation bonds can the found in the preliminary official statement, provided by MuniOS.
As of May 2017, the State of Georgia has an unemployment rate of 4.7%, which is 0.4% higher than the national rate for May, and 0.2% lower than at the same time in 2016. The chart below shows the changes in the 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 State of Georgia, as of 06/30/2016, along with the medians for other U.S. States 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.