The Metropolitan Government of Nashville and Davidson County, Tennessee — $724.4 Million

Oct 13, 2018 | Cities, Towns & Villages, Municipal Bond - Pricing/Analytics, Municipal Bond Market News/Research, Municipal Bond Trading & Underwriting, Municipal Finance

Featured Bond Nashville

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Featured Municipal Bond Issue, Week of October 15, 2018:   The Metropolitan Government of Nashville and Davidson County, Tennesse — $724.4  Million

The Metropolitan Government of Nashville and Davidson County, Tennessee is issuing $724,390,000 million General Obligation Improvement Bonds, Series 2018  for the purposes of providing long-term financing for public works projects, retire outstanding commercial paper bond anticipation notes isued to finance public works projects and  pay costs of issuance of the bonds.    The bonds are being sold by competitive underwriting on Tuesday, October 16th.

The bonds will be direct obligation of the Metropolitan Government for which its full faith and credit are pledged and shall be payable from ad valorem (property) taxes to be levied on all the taxable property within the Metropolitan Government without limitation as to rate or amount.

Nashville has been experiencing rapid growth in recent years.  Its current population 689,00 and its unemployement rate stood at 3.0% at the end of July, 2018.  It is the capital city of Tennessee and the home of Vanderbilt University, the two largest employers in the city.

The bonds will be issued as serial bonds with escalating amounts for each maturity with principal repayments beginning in 2019 and continuing until 2038.

Interest on the Series 2018A bonds are in  the opinion of Bond Counsel tax-exempt for federal income tax purposes.

Details on the purposes, tax-status, security, risks  as well as other matters pertaining to these  bonds can be found in the preliminary official statement after registering on the munios website and searching for Metropolitan Government of Nashville and Davidson County.

After registering, visitors can link direct to the official statement for the Nashville bonds.

 

The adjacent table (click to expand) is a quick snapshot of financial characteristics of the Metropolitan Government of Nashville and Davidson County as of 06/30/2017, compared with the 2016-2017 medians for other cities, 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.