Second Lien Bond Determination Certificate regarding issuance of City of Chicago Wastewater Transmission Revenue Bonds, Refunding Series 2024A
The City of Chicago's Mayor, Brandon Johnson, has authorized the issuance of Second Lien Wastewater Transmission Revenue Bonds, Refunding Series 2024A. The terms and provisions of the bonds are outlined in a certificate filed by the Chief Financial Officer, Jill A. Jaworski. The bonds, part of a larger Master Indenture with Amalgamated Bank of Chicago as trustee, will be purchased by Loop Capital Markets LLC for $250,605,218.53. The proceeds will be used to refund existing bonds and cover issuance costs. The bonds, insured by Build America Mutual Assurance Company, will mature annually from 2025 to 2044 with a fixed interest rate of 5%. They offer optional redemption from 2034, are tax-exempt, and will be issued through a book-entry system. The bond purchase agreement and continuing disclosure undertaking have been approved, with proceeds to be deposited as directed by the Chief Financial Officer.