Municipal Bond Issues
Below are the official statements for all City bond issues and the summary information on each issue:
2018 GO Bonds
Series: 2018 (issued in August 2018 at a competitive sale and receiving an overall 20-year interest rate of 3.221%)
Purpose: To improve roads, parks, and city facilities
Original Issuance Amount: $20,000,000
Maturity Date: 06/30/2036
2012 GO Bonds
Series: 2012 (issued in January 2012 at a competitive sale and receiving an overall 20-year interest rate of 2.25%)
Purpose: Police Station Project
Original Issuance Amount: $8,500,000
Maturity Date: 12/1/32
2010 GO Refunding Bonds
Series: 2010
Purpose: Refund Series 2000 to 2.18% interest rate
Original Issuance Amount: $3,065,000
Maturity Date: 6/1/2021
2009 GO Refunding Bonds
Series: 2009
Purpose: Refund Series 1998 and 1999 to 3.58%
Original Issuance Amount: $4,915,000
Outstanding Balance (as of 6/30/15): $1,995,000
Maturity Date: 6/1/2019
Full Faith & Credit Obligations (FFCO):
2023 FFCO
Series: 2023 (issued in February 2023 at a competitive sale and receiving an overall 20-year interest rate of 3.39%)
Purpose: New main water line from Oregon City attached to Abernathy Bridge, as required by Oregon Department of Transportation (ODOT) contract
Original Issuance Amount: $11,470,000
Maturity Date: 06/01/2043
2015 FFCO
Series: 2015 (issued in December 2015 at a competitive sale and receiving an overall 20-year interest rate of 2.23%)
Purpose: $2M new money to complete the funding for the Bolton Reservoir project, refund Series 2009B FFCOs and refund Series 2000 Water Revenue bonds
Original Issuance Amount: $5,265,000
Maturity Date: 12/01/33
Call Date: 12/1/2025
2010 FFCO Refunding Bonds
Series: 2010
Purpose: Refund Series 2000 to 2.02% interest rate
Original Issuance Amount: $2,575,000
Maturity Date: 12/1/2020
Revenue Bond Issues:
The City did have a Series 2000 Water Revenue bond issue, but it was refunded in December 2015 as part of the Series 2015 FFCO bond issue
Continuing Disclosures:
The SEC requires certain continuing disclosure requirements under SEC Rule 15c2-12 that include annual financial information, audited financial statements, material event notices, failure to file notices and any other voluntary and relevant bond disclosures. The City is in compliance with all of these annual disclosure requirements.
The Municipal Securities Rulemaking Board (MSRB) collects continuing disclosure documents for public access via their Electronic Municipal Market Acess (EMMA) software free of charge at: www.emma.msrb.org
Using the EMMA software at the above website link, you can review and retrieve the City of West Linn's continuing disclosure bond information. Below are the City's CUSIP numbers which will help facilitate looking up the City's information easier.
General Obligation Bonds: CUSIP No. 954039 WEST LINN ORE
Water Revenue Bonds: CUSIP No. 954065 WEST LINN ORE WTR REV
Disclaimer Language:
Official Statements listed for the above bond issues may be accessed in PDF format. These documents are provided as of the sale date of the bond issue and should be considered historical in nature. The City does not undertake to update information provided herein. The information and expressions of opinion therein are subject to change without notice and the posting of information on the web site does not imply that there has been no change in the affairs of the City since the date of the document.
