What is the opportunity?
The San Diego Regional Building Authority is expected to come to market with $108 million1 in Lease Revenue Refunding Bonds, Series 2016A. Proceeds from the sale will be used to refund certain bonds outstanding (see Preliminary Official Statement for details), fund a common reserve account for the Series 2016A Bonds and any series of additional bonds issued pursuant to the Indenture and secured by the Common Reserve Account, and pay the costs of issuance.
The Bonds are limited obligations of the Authority, payable solely from certain funds and accounts pursuant to the indenture and revenues derived from Rental Payments for the use and possession of the Leased Property. Neither the full faith and credit of the Authority nor the County is pledged for the payment of the interest on or principal of the Bonds and no tax or other source of funds other than the Revenues is pledged to pay the interest on or principal of the Bonds. The Authority has no taxing power.
The bond sale offers attractive benefits to individual investors who are residents of the State of California, including federal and state tax exemption on the interest 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 be priced the week of February 1,1 although market conditions or the discretion of the issuer may affect this timeline or the amount of bonds offered. Individual investors can place orders online or by calling a Fidelity representative at 800-554-5372. 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.