For just the fourth time in its history, the city of Denver will be issuing
Denver Mini-Bonds in 2007. Introducing the new program,
Mayor John W. Hickenlooper described Denver Mini-Bonds as small investments that pack a big financial punch. “At $500 each, Denver Mini-Bonds are an affordable,
tax-free investment for all Coloradans—much less expensive than traditional municipal bonds. And not only do they help individual investors build their financial future, they also
fund Denver’s new Justice Center,” Mayor Hickenlooper said.
Denver Mini-Bonds may be ordered only during the five business days between Monday, April 2 and Friday, April 6, 2007.
Individual Colorado residents can buy 2007 Denver Mini-Bonds for only $500 each. Each bond will grow to $1,000 at maturity in 2022—a competitive annual tax-free yield of 4.75%*. For buyers in the 33% combined federal and Colorado tax bracket, that’s a t
axable-equivalent yield of 7.09%. These Denver general obligation bonds are considered to be one of the safest investments around,
rated Aa1/AA+/AA+ by Moody’s, Standard and Poor’s, and Fitch, respectively—the second highest rating of investment-quality bonds.
Since they are approximately 15-year investments, Denver Mini-Bonds are only suitable for investors with
long-term financial goals, such as saving for a child’s education or their own retirement. The bonds may not be sold prior to maturity and will not be called by the city.
Denver Mini-Bonds are out for justice
Denver Mini-Bonds give the city the ability to borrow money from Colorado investors to pay for the new Justice Center approved by Denver voters in 2005. In fact, the 2007 Mini-Bonds will feature the new courthouse design, making them a unique commemorative for bondholders.
As the Denver Mini-Bonds are maturing, investors can watch their investment dollars at work on construction of this new facility, which is already underway. The Justice Center complex, which includes a new courtroom building, detention facility, and parking garage, is located in downtown Denver between West Colfax Avenue and West 14th Avenue and Fox Street and Delaware Street. The project is scheduled to be completed in late 2009.
How to order Denver Mini-Bonds 1.
Request an Official Statement, which is the complete legal description of Denver Mini-Bonds. By law, the city must provide an Official Statement before accepting an individual’s order. To request it, you can:
· Click here to
view the Official Statement online and obtain an order form.
· Call the 24-hour Denver Mini-Bonds Order Information Line at 720-865-7154 and leave your name and mailing address.
· Pick up a copy at the City and County of Denver Department of Revenue, 144 West Colfax Avenue, Room 209, in downtown Denver.
2. If, after reading the Official Statement, you
decide to invest, complete the order form, and purchase an official bank check (cashier’s check) in the amount of $500 times the number of bonds (maximum of 40 bonds per individual) you wish to buy. (Your bank may charge a fee for this service.) The city cannot accept personal checks or cash.
3. Mail or hand
deliver your completed order form and official bank check (cashier’s check) to locations listed on the order form. Orders will be accepted in person only between 10 a.m. and 4 p.m., Monday, April 2 through Friday, April 6, 2007. Mailed orders must be postmarked by April 6 and received by April 11, 2007, in order to be accepted. Orders will be date stamped and processed as soon as they are received. You will be mailed a card acknowledging receipt of your order, and your Denver Mini-Bond certificate will be sent to you on or after April 24. Interest on the bonds begins accruing on April 24, 2007.
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