Featured Municipal Bond Issue, Week of 11/13/2017: State of Wisconsin – General Obligation Bonds – $278 Million
This week’s featured bond comes from the State of Wisconsin. Wisconsin is issuing general obligation bonds in the amount of $278 million the week of November 13, 2017. This new bond issue is being issued as a single series. Proceeds from Series B will be deposited in the State’s Capital Improvement Fund, and will be spent as the state incurs costs for various borrowing or issuance purposes. Until spent, the money will be invested by the State of Wisconsin Investment Board. Bond proceeds will be spent on various capital facilities and improvements. The largest shares are $136 million for the building commission for housing state departments and agencies, and $56 million for academic facilities of the University of Wisconsin.
Security for the bonds is a direct and general obligation of the State of Wisconsin, and the full faith, credit, and taxing power of the state is pledged to their payment. Further details on the purposes, tax-status, and security, as well as other matters pertaining to these general obligation bonds can be found in the preliminary official statement, available on MSRB’s EMMA service.
Provided at left (click to expand) is a quick snapshot of financial characteristics of the State of Wisconsin as of 6/30/2016, compared 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.
by Jeffrey L Garceau