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John Beagle
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Posted - 01/05/2010 :  11:35:19 AM  Show Profile  Visit John Beagle's Homepage  Reply with Quote Report Abuse

From the office of the Treasurer:

The attached letter from Andy Brossart outlines who investors should call to get set up for purchasing the bonds. The bonds will be sold on Tuesday, January 12, 2010 in increments of $5,000. Let me know if you have questions.

Kelley Thorpe
Monroe Local Schools Treasurer

Local Investors Letter 1-5-10.pdf"

"I don’t know the key to success, but the key to failure is trying to please everybody" #BillCosby

John Beagle
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Posted - 01/05/2010 :  11:36:58 AM  Show Profile  Visit John Beagle's Homepage  Reply with Quote Report Abuse

Residents of Monroe get first dibs on the bonds. Then they go out to the general market.

"I don’t know the key to success, but the key to failure is trying to please everybody" #BillCosby
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John Beagle
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Posted - 01/05/2010 :  11:40:03 AM  Show Profile  Visit John Beagle's Homepage  Reply with Quote Report Abuse

Contents of the Letter: (For those who can not read a pdf file)

Fifth Third Securities, Inc. will be offering for sale the Monroe Local School District Series 2010
$980,000.00 Lease Purchase Revenue Bonds on January 12th, 2010.

Monroe School District residents will have access to purchase these bonds on the day of pricing, January 12th, 2010. Prior to this date, interested investors will need to contact the below listed Fifth Third Securities Representative. Interested i nvestors will need to meet with a licensed Fifth Third Securities Representative and open an investment account in order to purchase these bonds. The Bonds are offered in increments of $5,000.00.

The initial contact at Fifth Third Securities, who will set up appointments, is Melissa Wilson. Her contact
information is listed below.

Melissa Wilson
Licensed Sales Assistant
Fifth Third Securities
580 Wessel Dr
Fairfield OH 45014
513-858-8413
fax 513-858-8415

If there are any questions, please call me at (513) 534-6366.

Respectfully,

Andrew J. Brossart, CPA
Vice President, Public Finance

"I don’t know the key to success, but the key to failure is trying to please everybody" #BillCosby
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Richard Creek
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Posted - 01/05/2010 :  6:12:02 PM  Show Profile  Reply with Quote Report Abuse

$5000 at what interest rate? for how long?

Fighting words from the common man.
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John Beagle
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Posted - 01/05/2010 :  10:44:10 PM  Show Profile  Visit John Beagle's Homepage  Reply with Quote Report Abuse

I will call Melissa Wilson to find out the rates and specifics and report back here.

"I don’t know the key to success, but the key to failure is trying to please everybody" #BillCosby
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John Beagle
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Posted - 01/06/2010 :  3:01:35 PM  Show Profile  Visit John Beagle's Homepage  Reply with Quote Report Abuse

I called Melissa, she did not have any information on rates or other specifics.
She said she would call me back when she had the info.

Two things she did say,
1. The bonds will most likely be sold very fast.
2. In order to buy these bonds, you need to have an account setup ahead of time. This is the only chance you have to be able to buy the bonds.

I will update when I get more information on this.

"I don’t know the key to success, but the key to failure is trying to please everybody" #BillCosby
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John Beagle
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Posted - 01/06/2010 :  4:55:38 PM  Show Profile  Visit John Beagle's Homepage  Reply with Quote Report Abuse

Note Interest Rate Esitmates from Melissa:

1 yr 1.5%
2 yr 1.75%
3 yr 2.0%

You can buy up to 20 year bonds which are estimated to pay out 5.25%

Bonds are available in $5000 increments.
You can get a 5/3rd account at Monroe Krogers, you need to have this to buy the bonds.
It is expected that the bonds will sell out within 2 hrs on Tuesday.

More details when I get em.

"I don’t know the key to success, but the key to failure is trying to please everybody" #BillCosby
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buckeyenut
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Posted - 01/06/2010 :  6:37:39 PM  Show Profile  Reply with Quote Report Abuse

I got better than that on short term CD's and they are insured whereas these bonds are not but hey, it's all a crap shoot in this economy!
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John Beagle
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Posted - 01/07/2010 :  5:17:19 PM  Show Profile  Visit John Beagle's Homepage  Reply with Quote Report Abuse

What short term CD did you buy, at what rate and where did you buy it?

I think these Monroe Bonds are at highly competitive rates.

quote:
[i]Originally posted by buckeyenut[/i]
[br]I got better than that on short term CD's and they are insured whereas these bonds are not but hey, it's all a crap shoot in this economy!


"I don’t know the key to success, but the key to failure is trying to please everybody" #BillCosby
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Expresso
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Posted - 01/08/2010 :  9:55:20 PM  Show Profile  Reply with Quote Report Abuse

That sure was nice of them to offer us those bonds.
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Expresso
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Posted - 01/08/2010 :  10:10:28 PM  Show Profile  Reply with Quote Report Abuse

Thank you Houndog. Your thinking that 2000 people will buy bonds. Lets say I just came into 300,000 dollars. How many bonds would I need to buy to cover that?
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Houndog
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Posted - 01/08/2010 :  10:21:42 PM  Show Profile  Reply with Quote Report Abuse

quote:
[i]Originally posted by Expresso[/i]
[br]Thank you Houndog. Your thinking that 2000 people will buy bonds. Lets say I just came into 300,000 dollars. How many bonds would I need to buy to cover that?



Oh yea...way off. On a related note I did graduate from Monroe High School.
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Expresso
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Posted - 01/08/2010 :  10:26:57 PM  Show Profile  Reply with Quote Report Abuse

Not a bad deal. How many people do you think will buy the bonds?
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Expresso
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Posted - 01/08/2010 :  10:28:35 PM  Show Profile  Reply with Quote Report Abuse

Do you think the sellers will buy the bonds?
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Houndog
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Posted - 01/08/2010 :  10:39:32 PM  Show Profile  Reply with Quote Report Abuse

I dunno. Do you?
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Expresso
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Posted - 01/08/2010 :  10:43:38 PM  Show Profile  Reply with Quote Report Abuse

No, but it would be a good deal.
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John Beagle
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Posted - 01/11/2010 :  09:20:35 AM  Show Profile  Visit John Beagle's Homepage  Reply with Quote Report Abuse

These bonds go on sale tomorrow. They are expected to sell out in 2 hours. Monroe residents get first shot at these, so if you are interested, you need to act today to get an account setup. Call Melissa Wilson:

Melissa Wilson
Licensed Sales Assistant
Fifth Third Securities
580 Wessel Dr
Fairfield OH 45014
513-858-8413
fax 513-858-8415

"I don’t know the key to success, but the key to failure is trying to please everybody" #BillCosby
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John Beagle
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Posted - 01/12/2010 :  09:58:15 AM  Show Profile  Visit John Beagle's Homepage  Reply with Quote Report Abuse

Did anyone buy any School Bonds? I did not. I considered it, but did not want to open another account at another financial institution. Plus the lack of solid rate quotes turned me off on the process.

"I don’t know the key to success, but the key to failure is trying to please everybody" #BillCosby
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buckeyenut
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Posted - 01/12/2010 :  10:39:58 AM  Show Profile  Reply with Quote Report Abuse

Nope but partly because I am not feeling all that secure with 5/3 and slowly moving things away from them.

I did buy some CD's at First Financial here in Monroe. 42 months @ 2.75%APY, CM Quarterly. That's higher than anything I've found elsewhere. Guardian Bank at TriCounty has a 3yr @ 2.25% CM Daily which I may take advantage of soon. Union Savings has the same rate only CM quarterly and they are a good bank, too. I had a CD recently mature at 4.75%! Boy, was I sad to see that one end!
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