Notification of sale of City of Chicago General Obligation Bonds, Refunding Series 2024B
The City of Chicago, led by Mayor Brandon Johnson, has issued General Obligation Bonds, Refunding Series 2024B, worth $287,215,000 through a Bond Purchase Agreement with RBC Capital Markets, LLC and other underwriters. The proceeds will be used for financing purposes and issuance-related costs. The Sales Tax Securitization Corporation also issued bonds to finance costs, with the total amount not exceeding the Debt Issuance Limitation of $1.5 billion. The Bonds are authorized by the City Council and will be issued under a Trust Indenture with Zions Bancorporation. The underwriters will buy the bonds at a purchase price of $309,221,275.59 and resell them to investors. They are also responsible for establishing the issue price, reporting sales prices, and complying with pricing agreements. The Representative ensures compliance with agreements and rules related to sales prices, related party sales, and public sales.