Rider's 2017 Bond
The bond document below runs some 150 pages and much of it quite technical. However, we would like to point out the following sections and appendices that may be of interest.
On page 2 there is the following statement under "Purpose"
Purpose
The 2017 Series Bonds are being issued to provide funds to be loaned to the University (the “Loan”) pursuant to a Loan Agreement dated as of November 1, 2017, by and between the University and the Authority (the “Loan Agreement”), which funds will be used to undertake certain projects consisting of:
(a) renovation and equipping of the following residential facilities: Conover Hall, Delta Phi Epsilon Sorority Residence (House 10), Kroner Hall, Lake House, Ridge House and Wright Hall;
(b) renovation and equipping of the following academic facilities: Bart Luedeke Center Theater, Fine Arts Theater, Science and Technology Center and Sweigart Hall;
(c) construction of an approximately 30,000 sq. ft. addition to the Science and Technology Center (collectively, the “Capital Project”);
(d) fund capitalized interest for the 2017 Series Bonds through July 1, 2020; and
(e) pay certain costs of issuance of the 2017 Series Bonds.
See “ESTIMATED SOURCES AND USES OF FUNDS”, “PLAN OF FINANCING” and “APPENDIX A – CERTAIN INFORMATION REGARDING RIDER UNIVERSITY herein for a description of the Project under the heading “Strategic Importance of Planned Projects to be Funded with 2017 Bond Proceeds.”
On page 21 (Litigation) there is the following statement under "The University" (emphasis added)
"There is not now pending or, to the knowledge of the University, threatened, any proceeding or litigation contesting the Project or the Loan Agreement, the Mortgage and Security Agreement, the Mortgage Note, or the 2017 Series Bonds, or the ability of the University to perform its obligations under the Loan Agreement, the Mortgage and Security Agreement or the Mortgage Note, nor is there pending any litigation now pending, or to the knowledge of the University, threatened litigation which, if adversely determined would materially adversely affect the financial condition or operations of the University, the transactions described in this Official Statement or the validity of the 2017 Series Bonds, the Loan Agreement, the Mortgage and Security Agreement or the Mortgage Note.
And, if you're interested, you should read "APPENDIX A – CERTAIN INFORMATION REGARDING RIDER UNIVERSITY," which starts on page 28.
On page 2 there is the following statement under "Purpose"
Purpose
The 2017 Series Bonds are being issued to provide funds to be loaned to the University (the “Loan”) pursuant to a Loan Agreement dated as of November 1, 2017, by and between the University and the Authority (the “Loan Agreement”), which funds will be used to undertake certain projects consisting of:
(a) renovation and equipping of the following residential facilities: Conover Hall, Delta Phi Epsilon Sorority Residence (House 10), Kroner Hall, Lake House, Ridge House and Wright Hall;
(b) renovation and equipping of the following academic facilities: Bart Luedeke Center Theater, Fine Arts Theater, Science and Technology Center and Sweigart Hall;
(c) construction of an approximately 30,000 sq. ft. addition to the Science and Technology Center (collectively, the “Capital Project”);
(d) fund capitalized interest for the 2017 Series Bonds through July 1, 2020; and
(e) pay certain costs of issuance of the 2017 Series Bonds.
See “ESTIMATED SOURCES AND USES OF FUNDS”, “PLAN OF FINANCING” and “APPENDIX A – CERTAIN INFORMATION REGARDING RIDER UNIVERSITY herein for a description of the Project under the heading “Strategic Importance of Planned Projects to be Funded with 2017 Bond Proceeds.”
On page 21 (Litigation) there is the following statement under "The University" (emphasis added)
"There is not now pending or, to the knowledge of the University, threatened, any proceeding or litigation contesting the Project or the Loan Agreement, the Mortgage and Security Agreement, the Mortgage Note, or the 2017 Series Bonds, or the ability of the University to perform its obligations under the Loan Agreement, the Mortgage and Security Agreement or the Mortgage Note, nor is there pending any litigation now pending, or to the knowledge of the University, threatened litigation which, if adversely determined would materially adversely affect the financial condition or operations of the University, the transactions described in this Official Statement or the validity of the 2017 Series Bonds, the Loan Agreement, the Mortgage and Security Agreement or the Mortgage Note.
And, if you're interested, you should read "APPENDIX A – CERTAIN INFORMATION REGARDING RIDER UNIVERSITY," which starts on page 28.
| 2017_bond_document.pdf |
