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1520 Market Street Debt Information
The 1520 Market Street Bonds were issued to 1) refund bonds issued to fund and reimburse the City for the purchase of the Abram Building, located at 1520 Market Street, and 2) fund the acquisition of real property in the City
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Important Note
All of the information set forth below is historical and subject to change. The 1520 Market Street Bonds were sold via private placement and without official statement.
Project Description
The 1520 Market Street Bonds were issued to 1) refund bonds issued to fund and reimburse the City for the purchase of the Abram Building, located at 1520 Market Street, and 2) fund the acquisition of real property in the City, including the costs of securing options to purchase such real property, and other costs necessary to prepare such real property as a site for the western headquarters of the National Geospatial-Intelligence Agency, including, without limitation, the costs of relocation, remediation, demolition, clearance, surveys and site work.
Bondholder Security
The 1520 Market Street Bonds are special obligations of the St. Louis Municipal Finance Corporation (the "Corporation"), payable solely out of rental and additional rental payments derived by the Corporation from leasing the Abram Building to the City. The City has covenanted to pay rental and additional rental payments at such times and in such amounts as are necessary to prevent default in the payment of principal or premium, if any, and interest on the 1520 Market Street Bonds. The City's obligation to make such payments is subject to annual appropriation by the City. If the City fails to budget and appropriate funds for payments in any fiscal year, the lease will terminate at the end of the fiscal year for which funds have been appropriated and the City will be required to vacate the property.
Bonds Outstanding
There is currently outstanding the following two (2) series of 1520 Market Street Bonds with an aggregate principal amount of $14,353,507 as follows:
| Issuer | Series | New Money / Refunding | Par Outstanding | Final Maturity |
|---|---|---|---|---|
| St. Louis Municipal Finance Corporation | 2015A | Refunding | $2,035,000 | March 1, 2025 |
| St. Louis Municipal Finance Corporation | 2015B (Taxable) | New Money | $12,318,507 | March 1, 2035 |
Debt Service on Outstanding Bonds
Official Statements
- 2015A These bonds were privately placed and there is no official statement.
- 2015B These bonds were privately placed and there is no official statement.
