Arcadia To Issue Taxable Pension Obligation Bonds

Press release from the City of Arcadia:

October 21, 2020

The City of Arcadia is set to issue approximately $90 million in 2020 Taxable Pension Obligation Bonds beginning the week of October 26, 2020. The bond issue is part of the City of Arcadia's Comprehensive Pension Management Plan to address the City's unfunded pension liability. Interest income on the City's AAA-rated bonds will be free from California state income taxes; however, interest is federally taxable. For a complete discussion of tax matters, please see the Preliminary Official Statement. For more information, please call Stifel Investment Services at (818) 751-3013.This announcement is neither an official offer to sell nor a solicitation of an offer to buy any of these securities. Any offer to sell will be made only pursuant to the final official statement.

This press release was produced by the City of Arcadia. The views expressed are the author's own.