Geisinger Co-op bond
Geisinger Co-op bond
Buy a piece of “Danville’s Central Park” and feel good about keeping open space in Montour County.
These “bonds” are 100% refundable.
This fund raising effort is completely contingent on us raising enough money to be the successful bidder at the Auction for this property on May 28th, 2019. If we are not the successful bidders, your money will be refunded within two days of the auction date.
If we are successful…
If we can be the high bidder at the auction or in some other way convince the property owner to work with us, and put the property into some kind of public/private stewardship - you will be a part owner of the property. That is not to say that you can go plant a flag and say, “this is my acre”…because you cannot.
The bond entitles the bearer to a non-diliniaeted “share of the property.
You can’t develop your share, or claim it as your own private Idaho. You have a legitimate claim to compensation for your non-diliniaeted share, but you can’t actually claim any piece of property, mineral rights, water rights or any other “rights” you might think a land owner has.
This share of land you purchased is a place holder.
It means you are one of many who wanted to help.
It means you understand that this isn’t going to make your rich, but that you can expect some return.
It means that you will make your money back, and a little more (after logging and cell tower proceeds are collected) but that you won’t likely be able to send your kid to Harvard on the proceeds of your share of the mountain.
We expect you to hold your bond for 5 years minimum.
That will give us enough time to get our ducks in a row and begin to pay back bond holders using the proceeds from the property.
If you hold your bond for less than 5 years there will be a penalty of 20% of the cost of the bond.
Bonds are NON-TRANSFERABLE
You own a bond because you paid $3K/share. That got you a digital download from this website that you can present to the Law Firm ofMarks McLaughlin And Dennehy. With your certificate in hand, and proper I .D. our council will match your name and certificate to the master list of bond holders. If everything checks out, you will be given your legal bond at that time.
As you can see, we have gone to great lengths to ensure authenticity between purchasers and our ultimate bond holders. As a result, you can’t take them down to the bar, and trade them for two summer shandies and the promise of free dinners for a year. That won’t work.
If you want to trade your Bond privately, you would have to arrange that transaction with Marks McLaughlin And Dennehy, providing the proper documentation and recording the sale in the registry using proper protocol.
Stories are fun, but bond holders will not be recognized who are not part of the official register.
DEFAULT
What if we can’t pay back our Bond holders? What if the real estate market tanks and we go into a deep economic depression? It could happen, right?
In that event, the property will be sold, and each share holder will receive one “Share” of the proceeds for each share they have purchased.
For example:
to completely raise the money needed to buy the property, we would need to sell 440 shares @ $3,000./share to raise the $1.2 - $1.4 million needed as the anticipated sale price of the property. If we had to liquidate at the end of the 5 year term because we couldn’t generate enough money to make good on our committments to buy back the bonds, each “share” would be worth 1/440th of the overall sale proceeds generated at the time of the sale.