Revenue Bond

In September 2001, the City of Chicago issued a bond series with the following title:

“City of Chicago – Chicago Midway Airport – Revenue Bonds – Series 2001A”

  • Total Issue:  $222,465,000.
  • Par Value of Each Bond:  $5,000.
  • Interest:  5.5%.
  • Time-to-Maturity:  30 Years.

The bonds were designated to raise funds to build a new wing at the Chicago Midway Airport.  The bonds are backed by the airport’s revenue.  Since the bonds were insured by FSA, investors are doubly secure.

Bond Rating:  AAA

 

General Obligation Bond

In February 2002, Monterey County, in California, issued a bond series with the following tile:

“Carmel Unified School District – Monterey County – California – General Obligation Bonds – Series 2002”

  • Total Issue:  $9,663,455.
  • Par Value of Each Bond:  $5,000.
  • Interest:  6%.
  • Time-to-Maturity:  30 Years.

The funds that were raised were used to maintain and develop public schools in Monterey County.  The bonds were backed by all of the county’s revenues. This bond series was insured by FGIC.

Bond Rating:  AAA

Cover Page of a Municipal Bond Issue Prospectus

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