Investor Relations

Welcome, and thank you for your interest in City Colleges of Chicago ("CCC") Bonds. This issuance will be one of two (see Series 2013) General Obligation bonds outstanding for CCC and will be used to fund capital improvement projects for its colleges.
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 2017 Bonds

 

On November 29, 2017 City Colleges of Chicago ("CCC") priced $78,065,000 of federally tax-exempt unlimited tax general obligation bonds to fund (1) the design and construction of an Engineering and Advanced Manufacturing Center at Daley College, (2) a Transportation, Distribution and Logistics building at Olive-Harvey College, (3) the payment of interest on the Bonds through December 1, 2018, and (4) the payment of the costs of issuance on the Bonds (including Underwriters’ discount). The bonds are supported by pledged revenues consisting of net tuition and fees and St​ate 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 2047.  Interest will be payable semi-annually on June 1 and December 1, beginning June 1, 2018. Bonds maturing on or after December 1, 2032 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, 2027.  The Bonds are also subject to a mandatory sinking fund redemption (see "The Bonds-Redemption" in the OS). The Bonds are rated A+ (negative 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 are expected to assign an Insured rating of AA (stable outlook) to the Bonds.

Information for Investors

CCC issues bonds to finance the construction, renovation and expansion of its colleges. Proceeds from bonds support capital improvements—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 thei​​r 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.
  • Audited financial statements​, available in CCC’s Comprehensive Annual Financial Report ("CAFR") which provides a snapshot of the overall financial health of the district, including assets, liabilities, revenues and expenditures.
  • The FY2018 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 of the information currently disclosed on EMMA.

To view some of the documents provided on this page, you need Acrobat Reader. If you do not have this program, click download Adobe Acrobat Reader now and follow the instructions.

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