Want To Buy An Oro Valley Bond?

--- UPDATE: The following is the pricing on the Oro Valley Excise Bonds:

Yesterday, we posted about the bond issue Oro Valley is providing to fund the town pool renovation.
We ask Stacey Lemos, Oro Valley Finance Director, in an email, how those of us in town can purchase one of these. Here is her response:
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"Thank you for your email and interest in our aquatic facility obligations.  The Town has a history of providing our local citizens the opportunity to purchase Town bonds through the public offering method.  This was done in 2010 when we issued the Clean Renewable Energy Bonds (CREBS) to build our solar photovoltaic panels at the Town Hall campus.  We marketed them locally by running ads in the Northwest Explorer and televised ads on CNBC.  While we can certainly explore the feasibility of private placement of future bond issuances, we have found that selling our bonds through a public offering is an efficient means of issuing debt because it opens the bonds up to thousands of investors and provides competitive market yields to benefit the Town.  We rely on the team of our underwriter and bond counsel to ensure that we comply with securities laws and provide the required legal disclosures associated with the debt issue, which is important to maintaining a strong investment grade bond rating.  I have attached the copy of the Standard & Poor’s bond rating report on the Series 2012 Excise Tax Revenue Obligations for the aquatic facility enhancements to this email for your information.  In order to encourage local investors, we also ran the attached ad in the prior two weeks’ editions of the Northwest Explorer.  Interested investors can contact the local office of Stifel Nicolaus, our underwriter, to inquire about purchasing the obligations as they are being priced tomorrow.  Local citizen investors receive priority through this purchase arrangement and get their orders filled first.

Thank you,

Stacey Lemos, CPA
Finance Director
slemos@orovalleyaz.gov
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