906 Columbia Street SW P.O. Box 42525 Olympia, WA 98504-2525 Phone: 360/725-5021 Fax: 360/586-4162 BOND 101 REPORT FORM Issuer Information Name of Issuer: Address of Issuer: Issuer City, State, Zip Issuer Type (state, city, PUD, etc.): , Select Issuer Type Principal User, if different from issuer: Counties in which the entity using the bond proceeds is located: Various Counties – More than four Statewide Issue Type and Title Was this bond voter approved? Yes No Exact title of issue: Issue Sale Method: Select Sale Method If Competitive Bid, number of bids: Debt Type: Select Debt Type Debt Category: Select Debt Category Series: New/Refund/Combo Select Issue Dates Dated Date of Issue: Issue Closing Date: Date of Issue Sale: Issue Maturity Date: Issue Purpose Purpose of Proceeds: Purpose Type: Airports Is this a Bond Cap issuance? Yes No If yes: Bond Cap Use Category: Select Bond Cap Category Project Title: Bond Cap Amount: $ Par Value and Interest Rates Tax-Exempt Par Value: $ Net Tax-Exempt Interest Rate: Taxable Par Value: $ Net Taxable Interest Rate: % % Variable Variable Total Par Value: $ Discount: $ Premium: $ Issue Costs Only leave fields blank if there are no fees. Check boxes if figures are estimates. Underlying security that supports the debt (e.g. taxes or other revenue Printed on _______ Page 1 of 6 American LegalNet, Inc. www.FormsWorkFlow.com 906 Columbia Street SW P.O. Box 42525 Olympia, WA 98504-2525 Phone: 360/725-5021 Fax: 360/586-4162 streams) Gross Underwriting Spread: $ Estimate Underwriting Spread per $1,000: (Database will calculate) Bond Counsel Fee: $ Estimate Legal/Underwriter’s Counsel Fee $ Estimate Administrative/Commission Fee: $ Estimate Feasibility Study Cost: $ Estimate Rating Agency Fee: $ Estimate Trustee Fee: $ Estimate Credit Enhancement: $ Estimate Escrow Costs: $ Estimate Financial Advisor Fee: $ Estimate Bond Insurance: $ Estimate Printing, inc. Official Statement: $ Estimate Out-of-State Travel: $ Estimate Miscellaneous: $ Estimate Issuance Team Name of Financial Advisor: Name of Bond Counsel Firm Name of Lead Underwriter(s): Name of Company Insuring Bond: Name of Registrar: Name of Trustee: Bond Ratings Standard & Poor’s: Moody’s: Fitch Attachments Are bond covenants attached? Yes No Is an Official Statement attached? Yes No Reporter Contact Information Reporter Name: Title: Affiliation: Address: City, State, Zip , Email: Phone: Printed on _______ Page 2 of 6 American LegalNet, Inc. www.FormsWorkFlow.com 906 Columbia Street SW P.O. Box 42525 Olympia, WA 98504-2525 Phone: 360/725-5021 Fax: 360/586-4162 Printed on ________ Page 3 of 6 American LegalNet, Inc. www.FormsWorkFlow.com 906 Columbia Street SW P.O. Box 42525 Olympia, WA 98504-2525 Phone: 360/725-5021 Fax: 360/586-4162 BOND 101 REPORT FORM INSTRUCTIONS Reporting Requirements: Chapter 39.44 RCW requires information on newly issued bonds to be supplied to the Department of Community, Trade and Economic Development (CTED) within 20 days of issuance. The underwriter of the issue should submit information on the report form provided by CTED. In cases where an issue is made without an underwriter, the issuer should supply the information. The following agencies have responsibility for completing reports: a. A state fiscal agency, when it acts as bond registrar for an issue (with local governments supplying all necessary information). b. Local governments issuing debt for whom the state fiscal agency is not the bond registrar. c. State agencies issuing bonds. NOTE: The issuer may opt to have an agent, such as an underwriter or bond attorney, complete the form. Official definition of "Bond" for the purpose of reporting to Bond Users Clearinghouse: Any agreement that may or may not be represented by a physical instrument, including notes, warrants, or certificates of indebtedness, that evidences an indebtedness of a state or a local government or a fund thereof, where the state or local government agrees to pay a specified amount of money, with or without interest, at a designated time or times to either registered owners or bearers, and also including any other indebtedness that may be issued by a state or local government to fund private activities or purposes where the indebtedness is of a non-recourse nature payable from private sources, except obligations subject to chapter 39.84 RCW. (Exception: Warrants that are non-interest bearing and payable on demand need not be reported.) Debt agreements or “issues” that must be reported to CTED on the Bond 101 form include, but are not limited to: • RID Bonds • Grant Anticipation Notes • Bond Anticipation Notes • Sales Tax Bonds • Lease/Purchase Contracts • Certificates of Participation • Special Obligation Notes • LID Bonds • Commercial Paper Notes • Tax Anticipation Notes • Promissory Notes • General Assessment Bonds • Tax Credit Notes • Revenue Anticipation Notes • General Obligation Bonds • Transit Authority Notes • Revenue Bonds • General Obligation Notes Definitions and Item Instructions: Bond cap – The total amount of tax-exempt private activity bonds a state may issue each year, limited by federal law. Authority to issue bonds under the bond cap is administered by CTED. Closing date – The date the security is delivered to the purchaser. Competitive bid – Bids that are open to any underwriter (not a public sale). Dated date – The date of an issue from which the bondholder is entitled to receive interest, even though the bonds may actually be delivered on some other date. The date that appears on the face of the bond certificate. Discount – The amount by which the selling or purchase price of a security is less than the principal amount of par value. Gross underwriting spread – The total amount charged by the underwriter to manage the bond issuance (not dollars per thousand), calculated on the basis of the difference between the amount paid to Printed on _______ Page 4 of 6 American LegalNet, Inc. www.FormsWorkFlow.com 906 Columbia Street SW P.O. Box 42525 Olympia, WA 98504-2525 Phone: 360/725-5021 Fax: 360/586-4162 the issuer for the bonds and the amount expected to be yielded when the bonds are resold on the secondary market. Maturity Date – The stated date on which all or a stated portion of the principal amount of a security become due and payable. Negotiated sale – A sale that was arranged with an individual underwriter. Net interest cost – The formula for calculating the net interest cost is: Aggregate interest payable + Discount – Premium Par value x Average Life Net Tax-Exempt Interest Cost = (Aggregate Tax-Exempt Interest Payable plus Discount minus Premium) divided by (Par Value of Issue times Average Life). Net Taxable Interest Cost = (Aggregate Taxable Interest Payable plus Discount minus Premium) divided by (Par Value of Issue times Average Life). Par value – The principal amount or aggregate face value of a bond or note due at maturity, usually stated on the face of the bond or note. Premium – The amount by which the price offered for a security exceeds its par value; the amount that must be paid above par in order to call or refund an issue. Principal user – The beneficiary of the bond proceeds. In some cases the principal user will not be the issuer; for example a state agency (the Issuer) might issue a bond for a local government (the Principal User). Enter “Same” if the Issuer is the Principal User. Private placement – A direct sale to one or more investors, which is not reoffered to the public. Purpose of Proceeds – State how the bond proceeds will be used (e.g. “for the installation of a storm water management system”). If the bond’s purpose is to refinance an existing debt, indicate the purpose of the original issue and its current par value; also indicate the purpose for any additional debt being incurred (e.g. “$2 million to refinance storm water collection bonds, and $5 million for a new secondary treatment plant”). Refund/refunding – The sale of a new issue, the proceeds of which are to be used to pay debt service on and retire an outstanding issue. The purpose of refunding may be to save interest cost, extend the maturity of the debt, or remove restrictive covenants in the security documents. Sale date – For a competitive offering, the date of the bid opening; for a negotiated or private placement, the date of the signing of the bond purchase agreement. Sale Method – Indicate if the bonds were placed on the primary market by one of the following methods: • • • • Competitive bids open to any underwriter (do not include public sales) Negotiated sale, one that was arranged with an individual underwriter Private placement, a direct sale to one or more investors, which is not reoffered to the public Other (e.g. mini bonds or public sales) Security – Indicate what revenue source will be used to repay the bonds. Title of Issue – Specify the title of the bond being issued. If the debt does not have an official title, simply state what kind of debt it represents (e.g. general obligation, revenue, local improvement district, warrant, tax anticipation note, commercial paper, etc.). Underwriter – An individual or firm engaged in the financing of capital by purchasing securities from the issuer for resale to investors. The underwriter agrees to buy an issue of securities on a given date at a specific price or to agree to buy unsubscribed securities of an issue; the underwriter assumes the liability of guaranteeing the issuer the full anticipated proceeds. Printed on _______ Page 5 of 6 American LegalNet, Inc. www.FormsWorkFlow.com 906 Columbia Street SW P.O. Box 42525 Olympia, WA 98504-2525 Phone: 360/725-5021 Fax: 360/586-4162 If you have questions or need additional help, e-mail the Bond Users Clearinghouse at buc@cted.wa.gov or call 360-725-5021. Printed on _______ Page 6 of 6 American LegalNet, Inc. www.FormsWorkFlow.com