“LIVE WELL BY DOING GOOD®”
November 11, 2020
Recent 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
Maturity Date: 7/1/2042
Yield to Maturity: 2.50%
Approximate Taxable Equivalency: 4.34% (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.
Valdés & Moreno, Inc. is regulated by the U.S. Securities and Exchange Commission (SEC), Municipal Securities Rulemaking Board (MSRB), and Financial Industry Regulatory Authority (FINRA). Look us up on BrokerCheck on FINRA’s website at finra.org. Also, the firm is a member of the Securities Investor Protection Corporation (SIPC). SIPC protects the securities and cash in your account up to $500,000 including up to $250,000 in cash awaiting investment.
FOR MORE INFORMATION CONTACT: Marco, Brian, or Kelly at 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 the official statement, prior sale, and/or change in price.
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