Public Finance - Parking Authority of the City of Lancaster (Lancaster County, PA)

Transactions

Client: Parking Authority of the City of Lancaster (Lancaster County, PA)
Transaction Type: Guaranteed Parking Revenue Bonds
Role: Sole Underwriter

  • The newly constructed parking facility will hold 300 vehicles.
  • Additionally, the proceeds will finance the construction of a public library.
  • Finally, the taxable bonds provided funds for the construction of commercial retail space adjacent to the parking facility.
  • The 2019 Bonds were rated “AA” by S&P due to the Municipal Bond Insurance Policy and rated “A3” by Moody’s on the underlying credit.