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San Jose, Calif., cancels redemption of $45.71 million airport bonds
By Melissa Kory
Cleveland, July 18 - The City of San Jose, Calif., announced the cancellation of the redemption of $45.71 million of its series 2001A airport revenue bonds on July 28 at par.
The city said it does not expect to provide sufficient money to pay the redemption price of the bonds.
The city originally called $131.335 million of the bonds. It expects to go ahead with the redemption of $85.625 million of the bonds on July 28 at par plus accrued interest to the redemption date.
Bank of New York Mellon Trust Co., NA is the trustee.
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