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Stormwater Revenue Bonds (2024)

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Project

In October 2024, the Bond Bank issued $60.270 million in tax-exempt Stormwater Revenue and Refunding Bonds, payable from net revenues of the Marion County Stormwater District. Proceeds of the Series 2024F Bonds were used to pay off the outstanding 2021 Stormwater Notes and refund the outstanding 2013D and 2015H bonds. In 2021, the Bond Bank entered into a short term, subordinated Direct Placement (2021 Notes) to fund stormwater improvement projects for the Marion County Stormwater District. The 2021 Notes matured on November 1, 2024. S&P and Kroll assigned an “AAA” to the Series 2024F bonds.