Wakefield Municipal Cooperative Corporation – Wells Fargo Bank Refunding Bond

Ferriter Scobbo & Rodophele, PC represented, the Wakefield Municipal Cooperative Corporation (“Cooperative”), in closing on an Amended & Restated Financing & Security Agreement (“Financing Agreement”) with Wells Fargo Bank, N.A. The Financing Agreement provided for the Cooperative to issue a tax exempt refunding bond in the principal amount of $6,280,000.00. The proceeds of the refunding bond were used to pay off an outstanding indebtedness and change the debt from a floating to a fixed interest rate. Ferriter Scobbo prepared the requisite votes, and the closing documents, including, a Supplemental Bond Resolution, the refunding bond, amendments to existing agreements regarding collateral, certificates and an opinion. Ferriter Scobbo also negotiated the terms of the Financing Agreement. Please contact Nicholas Scobbo for more information.