THE VILLAGES, Fla.--(BUSINESS WIRE)--The Sumter Landing Community Development District (“District”) plans to price approximately $55,000,000 Taxable Recreational Revenue Refunding Bonds, Series 2015 during the week of September 14, 2015. The proceeds of the 2015 Bonds will be applied, together with other legally available funds of the District, to (1) accomplish the refunding of the District’s outstanding Recreational Revenue Bonds, Series 2005A and Subordinate Recreational Revenue Bonds, Series 2005B, currently outstanding in the aggregate principal amount of $56,235,000, and (2) pay costs of issuance of the 2015 Bonds.
The initial offering of the 2015 Bonds is limited to “Qualified Institutional Buyers” as defined in Rule 144A under the Securities Act, in reliance on the exemption from the registration requirements of the Securities Act provided by Rule 144A and applicable state securities laws.
The District encompasses approximately 432.4 gross acres located entirely within the unincorporated area of Sumter County, Florida and is part of the active adult retirement community known as “The Villages.”
This press release does not constitute an offer to sell or the solicitation of an offer to buy any District bonds. An offering document for the District’s bond offering will be prepared and made available prior to the sale of any District bonds. Investors should not subscribe for any securities referred to in this document except on the basis of information contained in the offering document.