Lincoln Electric System (NE) to Issue $120 Million in Revenue Bonds
Featured Municipal Bond Issue, Week of June 4th, 2018: Lincoln Electric System (Lincoln, NE) Revenue Bonds – $120 Million
The Lincoln Electric System serving the city of Lincoln, Nebraska is issuing $120 million in revenue bonds the week of June 4th, 2018. The bonds are issued as a single negotiated series, and interest earned on the bonds is considered tax-exempt. Bond proceeds are being issued to (i) fund a deposit into the 2018 Debt Service Reserve Fund, (ii) to reimburse previously incurred capital expenditures, (iii) and for the payment and redemption of $30 million in outstanding commercial paper notes, and $30 million in other outstanding obligations.
Security for the bonds includes a pledge of Net Revenues of the System. Details on the purposes, tax-status, security, as well as other matters pertaining to these Lincoln Electric System revenue bonds can be found in the preliminary official statement, available on MuniOS.
Lincoln Electric System serves the city of Lincoln, NE, which makes up the majority of the Lincoln Metropolitan Statistical Area. As of March 2018, the Lincoln metro area has an unemployment rate of 2.6%, which is 1.3% lower than the U.S. rate in March, and 0.1% higher than the unemployment rate as of March 2017, as can be seen in the chart below.
You can find 10-year employment and labor force trends for all 50 states and each Metropolitan Statistical Area in the U.S. in our Employment Database, and more labor sector growth and compensation data on our Job Market page.
These facts and numbers are for informational purposes, and should not be considered an official disclosure for potential investors. Investors should consult the official statement. None of the information provided should be construed as a recommendation by MuniNet Guide, MuniNet LLC, Merritt Research Services LLC, or any of their employees. Information and analysis is for informational purposes only.
by Jeffrey L Garceau