October 10, 2017
Re: Transmission Facilities Revenue Bonds Issued by the IERA to Benefit the Bonneville Power Administration Transmission System
On September 21, 2017, the Idaho Energy Resources Authority (IERA) issued $200,765,000 of Transmission Facilities Revenue Bonds (“Series 2017 Bonds”/Bonneville Cooperative Project No. 1), with proceeds from the bond sale used to finance the acquisition of certain transmission facilities owned by the Northwest Infrastructure Finance Corporation VI (NIFC VI), and which were leased by NIFC VI to the Bonneville Power Administration (Bonneville). The Series 2017 Bonds were issued under an Indenture of Trust between the IERA and U.S. Bank National Association, as Trustee. The IERA will continue to lease the same transmission facilities to Bonneville, with lease payments made by Bonneville to the Trustee and used to pay, when due, the principal of, and interest on, the Series 2017 Bonds.
The Idaho Energy Resources Authority was created by the Idaho Legislature in order to promote the financing and development of electrical generating and transmitting resources, and to facilitate cooperation among utilities and various governmental agencies. The Series 2017 Bonds issued to benefit the Bonneville transmission system is yet another example of the IERA fulfilling its legislative purpose.
For additional information, contact:
Ron Williams, Interim Executive Director
Idaho Energy Resources Authority
Randy Hill has been reappointed to serve a second 5 year term, commencing July 1, 2017.
Mike Elliott has been appointed by Governor Otter to serve the remainder of Bob Mooney’s term, ending June 30, 2021.
Robert Mooney, P.E. (Bob) – In Memory
We are saddened to share that Bob Mooney passed away on May 4th, 2017. His leadership and expertise will be greatly missed.
View the Obituary on the Idaho Statesman: http://www.legacy.com/obituaries/idahostatesman/obituary.aspx?n=edward-robert-mooney&pid=185340506&fhid=6470#sthash.iER9PkcP.dpuf
FOR FURTHER INFORMATION, PLEASE CONTACT: