Invest in a bright sustainable future today - our community bond offering is open, buy before Aug 31, 2015 for this offer

All members of LOBREC can invest in its solar projects by purchasing bonds. The bonds will deliver economic, social and environmental benefits.

The first issue of bonds earn 3.5% annually, over a 10 year term; interest payments will begin in year 2 with interest for years 1 and 2 being paid in year 2.

There is no limit to the number of bonds a member can purchase.

To purchase bonds for LOBREC’s first project of a roof-top 50kW PV system on the Lake of Bays Community Centre in Baysville, download the Bond Offering Statement.

And

Complete the Bond Subscription Document (pdf) and mail to bonds@lobrec.org or mail to Lake of Bays Renewable Energy Co-op, c/o John Casey, 105 St Leonards Ave, Toronto, Ontario M4N 1K6 Along with your check.

To download LOBREC’s Articles of Incorporation click here (pdf)
To download LOBREC’s current Bylaws, click here (pdf)

Questions? Ideas? To schedule a call to talk to one of our board members about investing in LOBREC email us at info@lobrec.org

Frequently Asked Questions about LOBREC Bonds
What is a bond?
What is the principal, term, interest date and settlement date for the first issue of LOBREC bonds?
Can I buy more than one bond?
Can I buy less than the $500.00 bond?
Who can buy a bond?
What happens if the bond holder dies?
Can I transfer the bond to someone else?
When do I get the interest payment?
What is LOBREC using the revenue from bond sales for?
Can I buy a bond as a gift for someone?

What is a bond?
A bond is a loan of a specified amount of money (principal) to a cooperative or company for a specific period of time (term) for a specific project. In return the bond purchaser receives an interest payment at a specified interest rate at specific times over the term of the bond and the principal is returned at the conclusion of the term (maturity) of the bond. Each time a bond is issued for purchase by the cooperative or company, a settlement date (final date of purchase of a bond in that issue) is specified. Interest payments are made based on the settlement date.

What is the principal, term, interest date and settlement date for the first issue of LOBREC bonds?
The first issue of LOBREC bonds have:
•    A principal of $500.00
•    A term of 10 years
•    An annual interest rate of 3.5%
•    A settlement date of July 1, 2014 with interest will be paid annually on the settlement date except for year 1 which will be paid with the second year interest payment.

Can I buy more than one bond?
Yes! There is no limit on the number of bonds an individual member can purchase. You can also buy bonds at different settlement dates.

Can I buy less than the $500.00 bond?
Unfortunately this is not possible. However a donation to LOBREC would be welcome. At this time a charitable receipt is not possible but we are working to make one possible.

Who can buy a bond?
Any Canadian resident who is a member of LOBREC may purchase bonds. Also Canadian corporations or cooperatives who are members of LOBREC may also buy bonds. LOBREC memberships cost $10 per individual or business entity.

What happens if the bond holder dies?
The bond becomes part of the estate of the deceased bond holder and LOBREC will fulfill any outstanding interest payment and refund the principal when instructed by the executors of the estate. Transfer of the bond to another individual requires the approval of the LOBREC Board.

Can I transfer the bond to someone else?
Yes as long as the Board approves the transfer and that person is a member of LOBREC.

When do I get the interest payment?
Interest is paid annually on the settlement date starting in year 2; at this first payment the interest for year 1 and 2 will be paid. The delay in the payment of interest in year 1 is due to the need for capital to install the equipment and obtain connection approvals during the first year; the coop will receive revenue for the generation of electricity only when the system is fully operational.

What is LOBREC using the revenue from bond sales for?
The money is being used to buy the solar panels and other related equipment, engineering assistance, connection and other regulatory fees and other implementation costs. There is no remuneration to the directors of LOBREC who are volunteering their time to implement this project and direct the affairs of LOBREC.

Can I buy a bond as a gift for someone?
Yes! The recipient must be member of LOBREC, at least 18 years of age and complete the Bond Offering Agreement. You would provide the cheque for the principal amount.