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Bond Bank Facts
- Created in 1977 by the New Hampshire State Legislature
- Non-Profit agency, a political subdivision of the State
- Operated by 5 member Board of Directors, including the State Treasurer
- Full-Time Staff of 2 and 1 Part-Time
Loans to NH Towns, Cities, Counties, School Districts & other Districts:
$2.186 Billion since 1977
Number of individual loans: |
1109 |
Participants: |
235 |
Largest individual loan: |
$49,682,000 |
Smallest individual loan: |
$19,000 |
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1978 Resolution |
2005 Resolution |
Credit Ratings: |
Moody's Investors Service: |
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Interest Rate Coupon Range Last Bond Issue: |
(from the June 2011 bond issue) |
2.00% - 4.00% |
Approximate True Interest Costs Last Bond Issue:
(from the June 2011 bond issue) |
| 5 Year Loan |
1.25% |
10 Year Loan |
2.30% |
15 Year Loan |
2.98% |
20 Year Loan |
3.41% |
30 Year Loan |
N/A% |
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Services Offered: |
Long-Term loans through bond issues |
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Financial Advisory Services on Bond Anticipation Notes (BANs) |
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Debt service schedules in anticipation of meetings |
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We attend meetings in your community |
Fees: |
Bonds $1,500-$25,000 (one-time, all-inclusive except for your Bond Counsel) |
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BANs call for fee |
Bond Issues: |
June bond sale with July closing |
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December bond sale with December closing (depending on volume of applications) |
Benefits to Participating |
Reduced Time Requirements
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Communities: |
Low Cost of Issuance |
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Competitive Interest Rates |
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Streamlined Disclosure & Borrowing Process |
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Technical Assistance Always Available |
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Strong Credit Ratings |
Financial Advisor: |
First Southwest Company (Boston) |
Bond Counsel: |
Edwards, Angell, Palmer & Dodge (Boston) |
Trustee/Paying Agent: |
People's United Bank (Worcester, Massachusetts) d.b.a Chittenden Bank Corporate Trust (Burlington, Vermont) |
Auditor: |
Baker, Newman & Noyes (Manchester, New Hampshire) |
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Bond Issue Schedule |
Spring 2011 - Tentative |
Fall 2011 - Tentative |
Application Deadline: |
April 15, 2011 |
October 3, 2011 |
Bonds Priced: |
June 8, 2011 |
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Participants Received Funds: |
July 21, 2011 |
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First Interest Payment Date: |
February 15, 2012 |
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First Principal Payment Date: |
August 15, 2012 |
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Bond Bank Loan Volume Last 10 Years: |
2011 |
$116 million |
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2010 |
$125 million |
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2009 |
$79 million |
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2008 |
$53 million |
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2007 |
$80 million |
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2006 |
$73 million |
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2005 |
$127 million |
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2004 |
$96 million |
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2003 |
$170 million |
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2002 |
$108 million |
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2001 |
$42 million |
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2000 |
$32 million |
Refundings (Refinancings): |
The Bond Bank has refunded bonds 13 times, returning over $20 million in savings to participating communities. |
Purposes of Loans: |
Schools, Town Halls, Libraries, Police & Fire Stations, DPW & other Public Buildings, Water Systems, Sewer Systems, Landfills, Roads, Fire Trucks, Ambulances, Conservation Land, Court Judgements, Electric Systems, etc. |
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