THE VILLAGES, Fla.--(BUSINESS WIRE)--The Village Community Development District No. 12 (“District”) plans to issue approximately $94,740,000 Special Assessment Revenue Bonds, Series 2018 during the month of March 2018 in order to: (i) pay a portion of the costs of constructing and/or acquiring certain public infrastructure improvements associated with Phase II of the residential development within the boundaries of the District; (ii) pay capitalized interest on the 2018 Bonds; (iii) fund the Series 2018 Reserve Account; and (iv) pay costs of issuance of the Series 2018 Bonds.
The District has retained Citigroup Global Markets Inc. to serve as its underwriter during these bond financing activities. The initial offering of the Series 2018 Bonds is limited under Florida law to accredited investors within the meaning of the rules of the Florida Department of Financial Services.
The District encompasses approximately 1,490 gross acres and is located in the City of Wildwood, Florida. The residential development within the District is being developed as part of the active adult retirement community known as “The Villages.” Phase II of the development is comprised of approximately 791 gross acres and is planned to be developed with 3,640 age-restricted residential units.
This press release is an advertisement and is not a prospectus or an offering to purchase District bonds. A prospectus 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 prospectus.