Event Notice Dated November 13, 2008
Issuer/Obligated Person:
Stowers Institute for Medical Research
Stowers Medical Institute, Inc.
Stowers Resource Management, Inc.
(collectively, the “Institutions”)
Issues to which this Event
Notice relates:
$215,000,000 principal amount of Health and Educational Facilities
Authority of the State of Missouri Medical Research Facilities Revenue
Bonds (Stowers Institute for Medical Research), Series 2000 (Auction
Rate Bonds) (the “Series 2000 Bonds”)
$75,000,000 principal amount of Health and Educational Facilities
Authority of the State of Missouri Medical Research Facilities Revenue
Bonds (Stowers Institute for Medical Research), Series 2002 (Auction
Rate Bonds) (the “Series 2002 Bonds”, and together with the Series 2000
Bonds, the “Bonds”)
CUSIP Numbers:
Series 2000 Bonds:
60635HUV9
Series 2002 Bonds:
60635HVN6
Events Reported:
Most Recent Auction Results
Intent to Continue to Bid in Future Auctions
Intent to Continue to Bid in Future Auctions
The Institutions have been bidding in each auction for the Series 2000 Bonds and the Series 2002
Bonds at a rate equal to the lower of (1) the SIFMA Municipal Swap Index plus a spread of .25% or (2)
12%, which is the maximum rate permitted in the bond indentures relating to the Bonds.
Each bid by the Institutions has been for 100% of the outstanding Bonds of each series that are not
then owned by the Institutions. There has never been a failed auction for either the Series 2000 Bonds or the
Series 2002 Bonds.
Until further notice, the Institutions will continue to bid for 100% of the outstanding Bonds not
owned by the Institutions in each future auction at the lower of (1) the SIFMA Municipal Swap Index plus a
spread of .25% or (2) 12%, which is the maximum rate permitted in the bond indentures relating to the
Bonds. The Institutions will not change either (1) its intent to bid for 100% of the outstanding Bonds of
each series, or (2) the index or sprea