Investor Relations Series 2024 Bonds

Welcome, and thank you for your interest in City Colleges of Chicago ("CCC") Bonds. This issuance will be Series 2024 General Obligation bonds outstanding for CCC and will be used to refund all or a portion of the District’s Unlimited Tax General Obligation Bonds (Dedicated Revenues), Series 2013
Disclaimer: The information contained here is for general information purposes and no person should make any investment decision based solely on the information contained herein.
Overview of Series 2024 Bonds
On January 9, 2024 City Colleges of Chicago ("CCC") priced $186,565,000 of federally tax-exempt unlimited tax general obligation bonds to (1) refund all or a portion of the District’s Unlimited Tax General Obligation Bonds (Dedicated Revenues), Series 2013, (2) pay the premium for the Bond Insurance Policy, and (3) pay the cost of issuance of the Bonds (including the Underwriters’ discount).
The bonds are supported by pledged revenues consisting of net tuition and fees and State grants, as well as by pledged ad valorem property taxes within the District, which is coterminous with the City of Chicago.
This bond issue is structured for level annual debt service through 2043. Interest will be payable semi-annually on June 1 and December 1, beginning June 1, 2024. Bonds maturing on or after December 1, 2034 are subject to redemption prior to maturity at the option of the District, in whole or in part on any date on or after December 1, 2033. The Bonds are also subject to a mandatory sinking fund redemption (see "The Bonds-Redemption" in the OS).
The Bonds are rated A+ (Positive Outlook) by Fitch Ratings and BBB+ (Stable Outlook) by Standard and Poor’s Global Ratings based on the credit of the District. Standard and Poor’s Global Ratings assigned an Insured rating of AA (Stable Outlook) to the Bonds based on the Municipal Bond Insurance Policy.
Information for Investors
Proceeds from bonds support refunding all or a portion of the District’s Unlimited Tax General Obligation Bonds (Dedicated Revenues), Series 2013 and other bond costs of the refunding – not the day-to-day operating expenses of the District. Bonds issued by CCC are debt obligations and are not sold directly to the public; to buy CCC bonds, investors should contact their registered broker/dealer or financial advisor.
Investors and prospective investors in CCC bonds typically find the following information helpful in deciding whether to invest:
  • Official Statement?, describes the nature and type of bonds issued, how the bonds will be repaid and over what time period, and offers information on the district and its management. Before purchasing a CCC bond, investors should read the Preliminary Official Statement.
  • FY2023 audited financial statements, available in CCC’s Annual Comprehensive Financial Report ("ACFR") which provides a snapshot of the overall financial health of the district, including assets, liabilities, revenues and expenditures.
  • The FY2024 budget, describes CCC’s financial and operational priorities, expected revenues and revenue sources, and the projected expenditures for the current fiscal year.
  • Financial policies describe the district’s approach to managing debt and investments.
Additional Bond Documents
Important Note: CCC disseminates and discloses certain information, including material updates to the District’s bond disclosures, through the Electronic Municipal Market Access ("EMMA") system established by the Municipal Securities Rulemaking Board. This web page is not intended to act as a substitute for the disclosure of the information posted on EMMA, nor does this website necessarily include all the information currently disclosed on EMMA.
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