> Home > Scottsdale Preservation Investment Bonds

Scottsdale Preservation Investment Bonds

Program update -- The bond sales referenced on this page closed on June 13, 2012. A report on the sale and its affect on the preserve program, interest rates and taxes will be made later this summer. 


For a limited time, Scottsdale residents have an opportunity to invest in new, AAA-rated, tax-exempt, "Preservation Investment Bonds" before they are released to institutional investors.

It is anticipated that these bonds will begin their exclusive retail period June 11, 2012.

To learn more or purchase the bonds, contact one of the underwriters listed here:

 

                           

J.P.Morgan
866-720-4201

            

Morgan Stanley
800-869-3326

             

Edward Jones
800-EDJONES

    

 Stone & Youngberg
866-677-5992

    

Wedbush Securities
480-778-8594

 

Background

In 2004, the city issued general obligation bonds for the capital investment and preserve land acquisition programs authorized by voters. With borrowing rates at historic lows, the city will save almost $10 million by issuing new bonds and using the proceeds to the higher-interest 2004 bonds.

Normally, the city’s bonds are sold by competitive bid and the opportunity for Scottsdale citizens to invest in these AAA-rated tax-exempt securities only happens through the secondary market.

But for this refunding, the City Treasurer has assembled a group of underwriters listed above with whom he will negotiate interest rates, terms, premiums and discounts.
More importantly, he is directing the underwriters to offer these securities to Scottsdale and other Arizona residents on an exclusive basis for a period of time before they are released to the institutional investors.

The City of Scottsdale continues to earn the coveted AAA rating from all major bond rating agencies and is pleased to offer these investments directly to our citizens for the first time.

Disclaimer

Under no circumstances shall this announcement constitute an offer to sell or a solicitation of an offer to buy these securities. Offers to purchase the securities may only be made through one of the underwriters listed above by means of a final official statement. Citizens interested in participating in the City’s securities should carefully review the preliminary official statement that describes the securities and the investment risks.