How to Purchase Solar Bonds
Important Considerations before buying
This Bond is not a share of Stock and does not in any way give the holder of the Bond an ownership interest in the Cooperative beyond what membership alone entitles. It does not provide any additional voting or membership rights to the Holder. The Holder of the Bond only acquires an interest in repayment of the face amount of the Bond along with the interest due.
You must choose an initial term. Your choices are a 7-year or 25-year term.
7-Year Solar Bond Term: Bondholders will receive annual interest-only payments for years 1-7, with the remaining Principal (Face Value) to be repaid within 30 days of the 7th anniversary of the issuance of this Bond. 7-Year Bondholders can opt at any point before the 7th anniversary of the issuance of this Bond to renew the Bond to the Legacy Bond Terms listed below. The Interest Rate change will be reflected on the statement accompanying the annual payment in the year of the change, with the interest rate prorated for the remainder of that year from the date the Bondholder elected to renew the terms to the Legacy Bond Terms described below. Legacy Bond Renewal: Principal and Interest Payments,
Years 8-25: If Bondholder elects to renew Bond, she/he should notify the Co-op in writing at before the Maturity Date at the anniversary of the dated signature of this certificate. Upon renewal for a Legacy Bond period, the Co-op will make principal and (higher) interest payments to Bondholders according to the Schedule on the back of this certificate for the remaining 18 years. 25-Year Legacy Bond Term: Bondholders who elect the 25-year term from the start will be paid annual interest-only payments for the first 7 years at the rate shown above and on the reverse, and will receive interest and principal payments starting in year 8 for the remainder of the term.
Ready to purchase Solar Bonds? Here’s how.
Step 2) Then, you need to complete the Bondholder Acknowledgement Form (this is the last page of the Bond Disclosures Packet) and a W9 form (https://www.irs.gov/pub/irs-access/fw9_accessible.pdf)
Step 3) Send the completed forms along with your payment to Legacy Solar Co-op P.O. Box 5052 Madison, WI 53705
You may also choose to buy bonds online.
Note: Online bond sales require a credit or debit card. For larger bond purchases, please consider sending us a check in the mail to save the cooperative 2.75% on the credit card transaction fee.
To Sum Up:
Within approximately 3 days, we will sign and send you a Bond Certificate (or we can arrange to meet you.) If paying by check, your check is held until we received a signed copy of your Bond Certificate.
Please call or email for help as needed or if you have any questions, at: 608-957-6801 or email us at: info@LegacySolarCoop.org