1520 Market Street

Abram Building debt information

Abram Building Banner 1

The information provided on this website does not constitute an offer or solicitation to sell or buy securities and does not constitute a recommendation for the purchase or sale of any security.  This site is not intended to replace any information or consultation provided by a professional financial advisor or tax advisor. See TERMS OF USE FOR THIS WEBSITE.

1520 Market Street Leasehold Revenue Bonds

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 $19,670,000 as follows:

Issuer

Series

New Money / Refunding

Par Outstanding

Final Maturity

St. Louis Municipal Finance Corporation

2015A

Refunding

$6,670,000

March 1, 2025

St. Louis Municipal Finance Corporation

2015B

New Money

$13,000,000

March 1, 2035



Debt Service on Outstanding Bonds as of June 30, 2016


Official Statements:
Series 
2015A These bonds were privately placed and there is no official statement.
2015B These bonds were privately placed and there is no official statement.

Was this page helpful?      


Comments are helpful!
500 character limit

Feedback is anonymous.