Transaction Overview

Janney Montgomery Scott served as the senior managing underwriter for a $57,855,000 General Obligation Limited Tax Park Bond issue for Chicago Park District (the “Park District”). The bonds were rated AA-/AA-/AA by S&P, Fitch and Kroll, respectively. The Series 2023A Bonds refinanced outstanding bond anticipation notes due June 1st, financed a portion of the cost of building, maintaining, and improving parks within the Park District as part of the Park District’s 2021, 2022 and 2023 Capital Improvement Plan, and paid capitalized interest. The transaction closed on May 30, 2023.

About Chicago Park District

The Park District is an independent government and taxing body that is coterminous with the City of Chicago. The Park District is a special district governed by the Act and other applicable State statutes. The Park District is an independent unit of government, separate from the City of Chicago. With more than 8,800 acres of green space, the Chicago Park District is one of the largest municipal park managers in the nation. The Park District’s more than 600 parks offer thousands of sports and physical activities as well as cultural and environmental programs for youth, adults, and seniors. The Chicago Park District is also responsible for 28 indoor pools, 50 outdoor pools, and 28 miles of lakefront including 23 swimming beaches plus one inland beach.

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Vivian Altman

Managing Director, Head of Public Finance

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