Rhode Island Housing is expected to come to market with $193 million1 in Homeownership Opportunity Bonds, Series 68-ABC (the "Bonds"). The proceeds of the Bonds will be used to refund certain outstanding bonds, pay for underwriting fees expenses, and deposit to the Redemption Account, which is expected to be used in the future to redeem bonds. The Bonds will not constitute general obligations of Rhode Island Housing but will constitute special revenue obligations of Rhode Island Housing and will be secured by and payable solely from a pledge of certain Revenues and Accounts established under the Resolution. Rhode Island Housing has no taxing power. The Bonds are not a debt or liability of the State of Rhode Island or any political subdivision thereof.
Traditionally, municipal bonds will be subject to optional call features, and term bonds will generally have a Mandatory Sinking Fund feature. Please review the structure on the day of the pricing before placing an order.
The bond sale offers attractive benefits to individual investors, including prices and yields that match those available to institutional investors and the potential for stable income through the call dates. For Rhode Island residents, Series 68-A and Series 68-B are exempt from federal and state taxes on the bond coupon payments. Series 68-C is subject to the Alternative Minimum Tax. Please see the Preliminary Official Statement (PDF) for more details.
How to place an order
Individual investors may place orders during the week of September 12, 2016.1 Individual investors can place orders onlineLog In Required online or by calling a Fidelity representative at 800-544-5372.
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