Pepper Hamilton Releases Draft of Preliminary Official Statement for Issuance of Pennsylvania Economic Development Financing Authority Bonds
Wednesday December 04, 2013 at 12:23 pm
By Jamie Serra

Click to View

The following draft provides a look at what the final bond issuance may look like after the Harrisburg Parking Authority confirms the accuracy of the information contained in the Preliminary Official Statement.

An attorney for Pepper Hamilton, LLP, Timothy B. Anderson, has indicated that another meeting of the Harrisburg Parking Authority would be necessary before the closing but no date has been set at this time.

The following (PDF) outlines the bonds that will be issued by the Pennsylvania Economic Development Financing Authority.

The proceeds will be used for:

(i) paying the cost of acquiring an interest in certain off-street parking garages and parking lots, together with metered parking spaces and devices and related parking assets owned or operated by the Harrisburg Parking Authority (the “Parking Authority”), as more fully described herein under the caption “THE CAPITOL REGION PARKING SYSTEM”;

(ii) funding a deposit to the Capital Reserve Fund established under the Indenture;

(iii) funding capitalized interest for the Series B Bonds and the Series C Bonds; and

(iv) paying the costs of issuing the Bonds.

Photo/Natalie Cake

 
Tags: Bond, HPA, Parking Authority, PEDFA, Pepper Hamilton LLP