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To read about debt descriptions, click here |
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CITY OF BURBANK BOND INDEBTEDNESS
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This site provides basic information relating to bond debt issued by the
City of Burbank. Currently, Burbank has two trustees handling bond matters,
Bank of New York and Wells Fargo. You may use the addresses and phone
numbers below to directly contact the Trustee for information.
There is also a section explaining the nature of debt service funds followed
by tables delineating Outstanding Debt Service Descriptions by bond type.
NOTE:
Bank of America is no longer is the trustee for any City of Burbank bonds.
U.S. Bank handles a portion of defeased bonds related to the Golden State
Redevelopment project area.
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BONDS WITH BANK OF NEW YORK (BNY)
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Contact:
Bondholder
Relations
Bank of New York -
Corporate Trust Operations
Fiscal Agencies
101 Barkley, 7
East
New York NY 10286
(800) 438-5473
The bondholder relations phone number offers several automated options
including transfer, check replacement, change of address, and lost
securities. An operator may be reached by pressing "0". Please have the
security name and CUSIP number ready. One helpful hint: advise the
customer service representative that City of
Burbank information can be retrieved from
the FIB database. |
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BOND
ISSUE |
ISSUE
DATE |
ISSUE
AMOUNT |
MATURITY
DATE |
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2004 Series
A
Wastewater
Treatment
Revenue
Bonds |
10/12/04 |
$19,130,000 |
6/1/34 |
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1995 Series
A
Wastewater
Treatment
Revenue
Bonds |
10/1/95 |
$16,800,000 |
6/1/25 |
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1993 Series
A
Wastewater
Treatment
Refunding
Revenue Bonds |
5/1/93 |
$9,255,000 |
6/1/07 |
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Telephone inquiries may be directed to
Bondholder Services (800) 344-5128.
In order to better use the system, please
have the CUSIP number and certificate numbers ready.
NOTE: Wells Fargo handles bonds
that were previously administered by Bank of America, First Trust, and most
recently U.S. Bank.
Send
registered bonds via certified or registered mail to:
Wells Fargo Bank Minnesota, N.A.
ATTN: Corporate Trust Services
P O Box 1517
Minneapolis MN 55480-1517
Via
air courier:
Wells Fargo Bank Minnesota, N.A.
Attn: Corporate Trust Services
MAC Code: N9303-121
Sixth and Marquette
Minneapolis MN 55479
Bond
drop-off in person:
Wells Fargo Bank Minnesota, N.A.
Northstar East Building
608 Second Avenue South
12th Floor – Corporate Trust
Services
Minneapolis MN |
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BOND
ISSUE |
ISSUE
DATE |
ISSUE
AMOUNT |
MATURITY
DATE |
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2003 Series
C
Revenue
Bonds
City Centre
Redevelopment Project |
10/9/03 |
$22,015,000 |
6/1/24 |
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2003 Series
D
Revenue
Bonds
Golden
State Redevelopment Project |
9/25/03 |
$8,795,000 |
12/1/24 |
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2003 Series
A
Revenue
Bonds
Golden
State Redevelopment Project |
2/11/03 |
$87,625,000 |
12/1/24 |
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2003 Series
B
South San
Fernando
Redevelopment Project |
2/11/03 |
$5,235,000 |
12/1/33 |
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2002 Series
A
West Olive
Redevelopment Bonds |
10/2/02 |
$14,000,000 |
12/1/26 |
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2002 Series
Burbank
Water & Power (BWP)
Electric
Revenue Bonds |
7/10/02 |
$25,000,000 |
6/1/22 |
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2002 Series
A (taxable)
Waste
Disposal
Revenue
Bonds |
2/20/02 |
$4,845,000 |
5/1/08 |
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2002 Series
B (tax exempt)
Waste
Disposal
Revenue
Bonds |
2/20/02 |
$10,290,000 |
5/1/17 |
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2001 Series
Burbank
Water & Power (BWP)
Electric
Revenue Bonds |
11/8/01 |
$54,745,000 |
6/1/11 |
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1998 Series
Public
Service Dept. (nka BWP)
Electric
Revenue Bonds |
11/18/98 |
$45,160,000 |
6/1/23 |
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1998 Series
Public
Service Dept. (nka BWP)
Water
Revenue Bonds |
11/18/98 |
$10,585,000 |
6/1/23 |
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1994 Series
A
Waste
Disposal
Revenue
Bonds (effective
04-05, this
bond will be fully refunded by 2002B issue) |
10/1/94 |
$4,730,000 |
5/1/24 |
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1993 Series
A
Waste
Disposal
Refunding
Revenue Bonds
(defeased) |
4/1/93 |
$3,015,000 |
5/1/09 |
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1992 Series
A (AMT)
Waste
Disposal Revenue Bonds
(defeased) |
6/1/92 |
$7,685,000 |
5/1/22 |
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1992 Series
B (non-AMT)
Waste
Disposal Revenue Bonds
(defeased) |
6/1/92 |
$2,280,000 |
5/1/22 |
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Community
Facilities No. 1991-1 Special Tax Bonds |
7/1/91 |
$2,030,000 |
10/1/06 |
BONDS THROUGH BOND PURCHASE AGREEMENTS
Bond Purchaser:
DEPFA BANK, plc New York Agency
623 Fifth Avenue, 22nd Floor
New York, NY 10022
(917) 286-2033
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BOND
ISSUE |
ISSUE
DATE |
ISSUE
AMOUNT |
MATURITY
DATE |
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Series 2004
Pension
Obligation Bonds |
6/17/04 |
$25,120,000 |
6/1/24 |
City of Burbank contact: Cindy Bloom (818) 238-5500 or
email
Last update: 11/30/05
Outstanding Debt Service Descriptions
(excerpt from the 2005-06
Adopted Budget)
Debt
Service Funds are a recognized fund type in generally accepted governmental
accounting principals. These funds account for the resources allocated toward
debt service payments. When a debt schedule is set up, the amortization
resembles mortgage payments in that principal payments typically increase and
interest payments typically decrease over the life of the outstanding debt.
All bonded indebtedness is administered by trustees as designated in the
bond’s Official Statement. Debt service payments and related administrative
fees are budgeted annually for each of the relevant funds.
The City
of Burbank has debt service obligations for the following funds:
General
City
General Fund (Fund 001)
Enterprise Funds
Water Reclamation and Sewer (Fund 494)
Burbank Water and Power
(Funds 496 and 497)
Refuse Collection and
Disposal (Fund 498)
Parking
Authority
Parking Authority (Fund 210)
Redevelopment Agency
Golden State Project Area (Fund 201)
City Centre Project Area (Fund
202)
West Olive Project Area (Fund
203)
South San Fernando Area (Fund
204)
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Bond
rating agencies, such as Moody’s Investor Services and Standard & Poor’s
review the debt landscape for the City on a regular basis and rate the bonds
accordingly. Factors such as the local economy, taxpayer base and
sufficient debt coverage levels influence the creditworthiness of bonds
issued.
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