The District of Columbia (the "District") is expected to come to market with $554 million1 in General Obligation and General Obligation Refunding Bonds (the "Bonds"). The proceeds of the Bonds will be used to finance capital project expenditures under the District’s capital improvements plan, advance refund a portion of the District's outstanding General Obligation Bonds, Series 2007C, and pay the costs and expenses of issuing and delivering the Bonds.
The Bonds are general obligations of the District, and the full faith and credit of the District is pledged to the payment of the principal of and interest on the bonds when due. The Bonds are further secured by a security interest in and lien on the funds derived from a Special Real Property Tax levied annually by the District, without limitation as to rate or amount, in amounts sufficient to pay the principal of and interest on the Bonds.
These bonds are rated "Aa1" by Moody's and "AA" by S&P.2
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.
The bond sale offers attractive benefits to individual investors including prices and yields that match those available to institutional investors, the potential for stable income through call dates, and, for District residents, federal and state tax-exemption on the bond coupon payments.
How to place an order
Individual investors may place orders during the week of November 28, 2016.1 Individual investors can place orders onlineLog In Required online or by calling a Fidelity representative at 800-544-5372.
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.