NEWS
$3,452,000 of Notes issued by the Township of Weehawken
The Township of Weehawken successfully issued $3,452,000 of Notes, consisting of a $952,000 Bond Anticipation Note and a $2,500,000 Bond Anticipation Note (Federally Taxable), dated November 9, 2021 to Amboy Bank. The Notes bear interest at the rate of 0.32% per annum (computed on the basis of a 360-day year) payable at maturity on November 9, 2022. JP Capizzi served as Bond Counsel to the Township in this financing.
$10,188,000 Note issued by the Township of Logan
The Township of Logan successfully issued a $10,188,000 Bond Anticipation Note dated October 19, 2021 to BNY Mellon Capital Markets, LLC. The Note bears interest at the rate of 1.00% per annum (computed on the basis of a 360-day year) payable at maturity on October 19, 2022. JP Capizzi served as Bond Counsel to the Township in this financing.
$54,200,000 of Certificates issued by The North Hudson Sewerage Authority
The North Hudson Sewerage Authority successfully issued $54,200,000 Gross Revenue Senior Lien Lease Certificates, Series 2021 authenticated October 13, 2021. Barclays Capital Inc. purchased the Certificates. S&P Global Ratings assigned the Certificates an insured credit rating of “A+” based upon a municipal bond insurance policy issued by Assured Guaranty Municipal Corp.; and an underlying credit rating of “AA”. The Certificates have a true interest cost of 1.8198% and finally mature on June 1, 2042. JP Capizzi served as Special Counsel and as General Counsel to the Authority in this financing.
$11,500,000 of Refunding Bonds issued by the Hudson County Improvement Authority on behalf of the Township of Weehawken
The Hudson County Improvement Authority successfully issued, on behalf of the Township of Weehawken, $11,500,000 Federally Taxable County-Guaranteed Special Obligation Revenue Refunding Bonds, Series 2021 (Township of Weehawken Port Imperial Parking Redevelopment Project) dated August 31, 2021. Raymond James & Associates, Inc. purchased the Bonds. S&P Global Ratings assigned the Bonds a credit rating of “AA”. The Bonds have a net interest cost of 2.9238% and finally mature on March 1, 2051. JP Capizzi served as Bond Counsel to the Township in this financing.
$4,645,000 Refunding Bond issued by the Atlantic City Municipal Utilities Authority
The Atlantic City Municipal Utilities Authority successfully issued a $4,645,000 Water System Revenue Refunding Bond, Series 2021 dated August 19, 2021. Fulton Bank, N.A. purchased the Bond, which was not rated. The Bond has a net interest cost of 2.1500% and finally matures on June 1, 2029. JP Capizzi served as Bond Counsel to the Authority in this financing.
$17,356,000 of Notes issued by the Township of Weehawken
The Township of Weehawken successfully issued $17,356,000 of Notes, consisting of a $16,428,000 Bond Anticipation Note, Series 2021 C-1A1 and a $928,000 Tax Appeal Refunding Note, Series 2021 C-1A2 dated August 17, 2021 to the Hudson County Improvement Authority. The Notes bear interest at the rate of 1.00% per annum (computed on the basis of a 360-day year) payable at maturity on August 16, 2022. JP Capizzi served as Bond Counsel to the Township in this financing.
$12,435,000 Note (Township Guaranteed) issued by the Parking Authority of the Township of Weehawken
The Parking Authority of the Township of Weehawken successfully issued a $12,435,000 Parking Project Note (Township Guaranteed) (Federally Taxable), Series 2021 dated August 17, 2021 to the Hudson County Improvement Authority. The Note bears interest at the rate of 1.00% per annum (computed on the basis of a 360-day year) payable at maturity on August 16, 2022. JP Capizzi served as Guarantor’s Bond Counsel to the Township in this financing.