Series 2009A Bonds and 2019 Refunding Bonds

In July 2009, GHEFA issued $100,850,000 2009A Bonds to finance projects at three Board of Regents of the University System of Georgia (BOR) institutions.

 

      2009A

2019 Refunding Bonds

Project

Original Amount

 Balance - As of 6/30/2019

Bainbridge State College - Student Center (BSC Project)

$ 21,265,000

 $                --

Columbus State University - Student Center (CSU Project)

   34,095,000

    22,285,000

Kennesaw State University - Student Housing and Dining Facility (KSU Project)

(formerly Southern Polytechnic State University prior to its consolidation with KSU)

    45,490,000

    30,460,000
Total $100,850,000 $ 52,745,000

 

During fiscal year 2019, all of the outstanding Series 2009A Bonds were legally defeased via two separate transactions.

  • On July 12, 2018, BOR acquired its interest in the BSC Project. GHEFA used the acquisition proceeds to legally defease the outstanding 2009A Bonds allocable to the BSC Project in the aggregate principal amount of $18,805,000, pursuant to the terms of an Escrow Deposit Agreement establishing and funding an irrevocable escrow account held by the Trustee for the 2009A Bonds.
  • On March 27, 2019, GHEFA issued its Series 2019 Refunding Bonds to refund the outstanding allocable portion of the 2009A Bonds for the CSU Project ($39,210,000) and the KSU Project ($28,790,000).

For required continuing disclosure information for the 2009A Bonds and the 2019 Refunding Bonds, please access the Municipal Securities Rulemaking Board’s Electronic Municipal Market Access system at the following internet address:  http://emma.msrb.org/, enter the following six digit issuer identifier (CUSIP) code:  373511 and then click on the appropriate bond issue.