Investor & Bond Information

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CITY OF BURBANK BOND INDEBTEDNESS

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 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.

BONDS WITH BANK OF NEW YORK (BNY)

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.

BOND ISSUE

         ISSUE
          DATE
       

       ISSUE       
      AMOUNT

       MATURITY       
           DATE

2004 SERIES A
Wastewater Treatment
Revenue Bonds

10/12/04

$19,130,000

6/1/34



BONDS WITH WELLS FARGO

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

BOND ISSUE

ISSUE
DATE

    ISSUE     
 AMOUNT  

MATURITY
DATE

2003 Series C
Revenue Bonds
City Centre Redevelopment Project
 

10/9/03

$22,015,000

6/1/24

2006 Special Tax Bond
Community Facilities District No. 2005-1
PART I                        PART II

6/1/06

$6,155,000

12/1/23

2003 Series D
Revenue Bonds
Golden State Redevelopment Project

9/25/03

$8,795,000

12/1/24

2003 Series A
Revenue Bond
Golden State Redevelopment Project

2/11/03

$87,265,000

12/1/24

2007 Series A
Revenue Bonds
Golden State Redevelopment Project

4/25/07

$52,325,000

12/1/43

2003 Series B
South San Fernando
Redevelopment Project

2/11/03

$5,235,000

12/1/33

2002 Series A
West Olive
Redevelopment Bonds

10/2/02

$14,000,000

12/1/26

2002 Series B (tax exempt)
Waste Disposal
Revenue Bonds

2/20/02

$10,290,000

5/1/17

1998 Series
Burbank Water & Power (BWP)
Electric Revenue Bonds

11/18/98

$45,160,000

6/1/23

1998 Series
Burbank Water & Power (BWP)
Water Revenue Bonds

11/18/98

$10,585,000

6/1/23

 

2010A Series
Burbank Water & Power (BWP)
Electric Revenue/Refunding Bonds

 

3/17/10

$35,825,000

6/1/23

 

2010B Series (Taxable Build America Bonds)
Burbank Water & Power (BWP)
Electric Revenue Bonds

 

3/17/10

$52,665,000

6/1/40

2010A Series
Burbank Water & Power (BWP)
Water Revenue/Refunding Bonds    

10/26/10

$8,795,000

6/1/23

2010B Series (Taxable Build America Bonds)
Burbank Water & Power (BWP)
Water Revenue Bonds    

10/26/10

$27,945,000

6/1/40

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 




 

 

BONDS THROUGH PURCHASE AGREEMENTS

DEPFA BANK, plc New York Agency
623 Fifth Avenue, 22nd Floor
New York, NY 10022
(917) 286-2033

BOND ISSUE

ISSUE DATE

ISSUE AMOUNT

MATURITY DATE

Series 2004
Pension Obligation Bonds

6/22/04

$19,100,000

6/1/23

City of Burbank contact: Dino Balos (818) 238-5500 or email

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)

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)

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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