Our most recent post about the unrated municipal bonds being issued to finance the proposed Ark Encounter project, which will be operated by a company controlled by Answers in Genesis (AIG), was the 11 Feb 2014 Update.
As you recall, the last reliable information we had (from Bloomberg) informed us that 06 February was the deadline for the bond offering, and if about $29 million worth of bonds weren’t sold by then, all the money from bonds that actually were sold must be refunded. Or, as apparently happened when an earlier deadline came and went, it’s conceivable that the sale period might be extended yet again
We’ve continued to search for news, but we haven’t found anything. As we told you before, we not only search on ol’ Hambo’s name, and the full name of AIG, and “Ark Encounter,” and even “Noah’s Ark,” but we also search on “Crosswater Canyon” (the AIG-owned company that is actually borrowing the money), and “City of Williamstown” (the Kentucky municipality that is fronting for the bond issue, but which has no financial responsibility for paying interest or principal), and also “Ross Sinclaire & Associates” — the underwriters of the bond issue. We get no hits from a news search on any of those.
There’s nothing in ol’ Hambo’s post that’s relevant to our topic until the very last sentence, which is this:
I have a few media interviews lined up over the next couple of days to discuss the debate and also to share something about the Ark Encounter.
That’s very mysterious. What does it mean? Has ol’ Hambo’s bond issue been successful? It seems that we’ll soon find out. Stay tuned to this blog!
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