Grand Rapids, Mich., plans to convert $32.9 million variable rate refunding bonds

By Cristal Cody

Springdale, Ark., March 12 - Grand Rapids, Mich., plans to convert $32.9 million remaining principal of series 1993 variable rate demand revenue refunding bonds on April 3, the issuer said Wednesday.

The multi-modal water supply system improvement bonds are currently in the weekly mode. The bonds will be converted to a fixed rate, said Scott Buhrer, chief financial officer for the city.

The city plans to choose a remarketing agent on Tuesday, he said.

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