$42,386,000 was borrowed on January 19, 2018 by CITY OF QUINCY

OFFICIAL STATEMENT
CITY OF QUINCY, MASSACHUSETTS
$42,386,000 GENERAL OBLIGATION BOND ANTICIPATION NOTES

This Official Statement is provided for the purpose of presenting certain information relating to the City of Quincy, Massachusetts (the “City”) in connection with the sale of an aggregate $42,386,000 principal amount of its General Obligation Bond Anticipation Notes dated January 19, 2018 (the “Notes”). The information contained herein has been furnished by the City except information attributed to another governmental agency or official as the source.

Authorization of the Notes and Use of Proceeds

The following sets forth the principal amounts, date of mayoral approval, purposes, and statutory references for the current offering of General Obligation Bond Anticipation Notes:

$4,000,000 (1) - $ 12/20/2005 (Order 2005-245) $ - (2) District Improvement Financing Ch. 40Q
$6,000,000 (1) - 6/5/2007 (Order 2007-107) - (3) District Improvement Financing Ch. 40Q
$7,000,000 - 10/4/2016, amended 12/20/2016 (Order 2016-202) - Sterling Middle School Construction (planning) Ch. 70B
$5,300,000 - 10/17/2017 (Order 2017-97) - Playground Repairs Ch. 44 s. 7(1)
$11,536,000 - 10/17/2017 (Order 2017-132) - Capital Improvements/Infrastructure
$3,550,000 - 10/17/2017 (Order 2017-133) - Animal Shelter Ch. 44 s. 7(1)
$2,700,000 - 10/17/2017 (Order 2017-134) - Land Acquisition Ch. 44 s. 7(1)
$2,300,000 - 10/17/2017 (Order 2017-135) - Traffic Safety Infrastructure Improvements Ch. 44 s. 7(7)
$42,386,000
________________________
(1) See discussion relative to the City’s redevelopment of Quincy Center under “Industry and Commerce” and “Tax Increment Financing for Development Districts” herein.
(2) $4 million maturing January 19, 2018, to be refunded with the proceeds of this issue, $3 million maturing June 15, 2018 and $3 million maturing December 21, 2018.
(3) $16 million maturing January 19, 2018 ($10 million to be permanently financed with bond proceeds to be issued concurrent with the Notes and $6 million to be refunded with the proceeds of this issue) and $4 million maturing July 13, 2018.

Please Support the Quincy Taxpayers Association

please support the quincy taxpayers association

Please Support the Quincy Taxpayers Association