The State of Oregon Housing and Community Services Department is expected to sell $80.4 million1 in tax-exempt Mortgage Revenue Bonds. The 2015 Series A bonds are not subject to Alternative Minimum Tax (AMT) and the 2015 Series B bonds are subject to AMT. The proceeds from the sale will be used to refund certain existing bonds and to purchase newly-originated Mortgage Loans.
The bonds are special revenue obligations of the State of Oregon and are secured by a pledge of and security interest in all revenues of the Department's outstanding mortgage loans and securities, the proceeds of the sale of bonds, all rights of the Department in and to the mortgages, and all other moneys in the accounts established by the Indenture. The bonds are not general obligation indebtedness of the State of Oregon. Neither the full faith and credit nor the taxing power of the State of Oregon thereof is pledged to payment of the bonds.
The bond sale offers attractive benefits for individual investors who are residents of Oregon, including federal- and state-level tax-exemption on bond coupon payments, prices and yields that match those available to institutional investors, and the potential for stable income.
How to place an order
The offering is expected to price the week of August 31, although market conditions and/or the discretion of the issuer may alter the anticipated timeline or the amount of bonds offered. Individual investors can place orders onlineLog In Required or by calling a Fidelity representative at 800-460-5848. To stay up-to-date on pricing, credit rating changes, and more, please sign up for Fidelity alerts or visit our municipal bond new issue offerings page.