Featured Municipal Bond Issue, Week of January 29, 2018: School and Port Projects Highlight Financing of $250 Million in Delaware General Obligation Bonds
The State of Delaware is issuing $250 million in general obligation bonds the week of January 29, 2018. These general obligation bonds are being issued in two series. Series 2018A is $225 million in tax-exempt bonds, to be issued for various capital projects. Series 2018B are $25 million in general obligation bonds that are considered to have interest be federally taxable. The Series 2018B bond proceeds are to be used for capital projects at the Port of Wilmington, including improvements to tenant space and fire protection improvements. About $69 million in proceeds from Series 2018A bonds are expected to be used for local public school facilities. Security for the bonds is a pledge of the full faith and credit of the State of Delaware.
Details on the purposes, tax-status, security, as well as other matters pertaining to these Delaware general obligation bonds, which can be found in the preliminary official statement, available on MuniOS.
As of December 2017, the State of Delaware has an unemployment rate of 4.%, which is 0.5% higher than the national rate for December, and 0.3% higher than at the same time in 2016. 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 (click to expand) is a quick snapshot of financial characteristics of the State of Delaware as of 06/30/2016, compared with the medians for other U.S. states, 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.
by Jeffrey L Garceau