October 12, 2020

NEW ISSUE

DOUBLE TAX-EXEMPT BOND

Interest is excludable from gross income for federal and Missouri income tax purposes and is not an item of tax preference for purposes of the federal alternative minimum tax (AMT).

Rating: Moody’s A2 (report available electronically upon request)

Interest Payable: January 1 and July 1 (beginning July 1, 2021)

Dated: September 24, 2020

Callable: July 1, 2028 @ 100

KANSAS CITY METROPOLITAN JUNIOR COLLEGE DISTRICT, MISSOURI
CERTIFICATES OF PARTICIPATION, SERIES 2020

Coupon: 2.375%
Maturity Date: 7/1/2042
Price: 99.577
Yield to Maturity: 2.40%

 
Approximate Taxable Equivalency: 4.17% (in top 37% federal and 5.40% state income tax bracket)

The proceeds from the sale of the Series 2020 Certificates will be used to pay for improvements to the Engineering Technology Center at MCC-Penn Valley, improvements to the Advanced Manufacturing Institute to be located near MCC-Penn Valley, additional facilities located on the MCC-Blue River campus, Public Safety Storage for Police and Fire Academy vehicles and gear, and to pay the costs related to the sale and delivery of the Series 2020 certificates.

The District finances its operations through tuition and fees, a local property tax levy, state aid, and federal programs (see Official Statement – Sources of Revenue).

The Official Statement which may be found at https://emma.msrb.org/IssueView/Details/P1404163 should be looked over carefully in its entirety for basic/better understanding of the new issue, the District’s finances, associated risks of investing in the certificates, and to spur any questions you may have.

 

FOR MORE INFORMATION CONTACT:

Marco Listrom, Brian Cookson, or Kelly Jones
816-221-6700

 

FULL SERVICE / DISCOUNT BROKERS / CORPORATE AND MUNICIPAL BONDS


The statements in this memorandum, while not guaranteed, are based upon information and advice that we believe to be accurate and reliable.  All offerings are subject to prior sale or change in price.

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