Featured Municipal Bond in the Market, Week of 07/11/2016: Los Angeles Community College District
This week’s featured bond comes from the Los Angeles Community College District (CCD), which scheduled to issue $300 million in school building and refunding bonds the week of July 11, 2016. The purpose of the bonds are to finance projects approved in connection with Measure J (2008). Though the bonds are listed as General Obligation, they are technically secured by a dedicated ad valorem property tax. More details on purposes, security, and other matters can the found in the official statement, provided by MuniOS. Currently, the Los Angeles Metropolitan Statistical Area has an unemployment rate of 4.1% as of May 2016, which is 0.6% lower than the national rate.
Provided at left is a quick snapshot of financial characteristics of Los Angeles CCD, along with the one year percentage change, 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.