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NEW ISSUE Investment Rating: Moody s Investors Service Aa3 ADDENDUM DATED SEPTEMBER 14, 2009, OFFICIAL STATEMENT DATED SEPTEMBER 1, $20094,920,000 Village of Morton Grove Cook County, Illinois Taxable

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What is taxable general obligation refunding?

Taxable general obligation refunding is a process in which a government entity issues new bonds to repay the principal and interest of its existing bonds. These new bonds are taxable, meaning that the interest earned on them is subject to taxation.

Who is required to file taxable general obligation refunding?

Government entities that have issued general obligation bonds and wish to refinance them through taxable bonds are required to file taxable general obligation refunding.

How to fill out taxable general obligation refunding?

Filling out taxable general obligation refunding involves providing information about the existing bonds, the new bonds being issued, and the reasons for the refunding. It also requires financial information and disclosure of any risks involved.

What is the purpose of taxable general obligation refunding?

The purpose of taxable general obligation refunding is to lower the interest rate or extend the maturity date of existing bonds, thereby reducing the issuer's debt service costs and improving its financial position.

What information must be reported on taxable general obligation refunding?

The information reported on taxable general obligation refunding includes details about the existing bonds, such as their issuance date, principal amount, and interest rate. It also includes information about the new bonds, such as their issuance date, principal amount, and interest rate.

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