San Diego Water defeases $53.38 million bonds, $133.45 million COPs

By Wendy Van Sickle

Columbus, Ohio, Sept. 24 – The San Diego County Water Authority defeased $53,375,000 of series 2010A non-AMT tax-exempt revenue bonds and $133,445,000 of series 2008A 5% water revenue certificates of participation, according to two notices.

The following of the bonds will be redeemed Nov. 1, 2019 at par plus accrued interest:

• $4.88 million of 5% bonds due May 1, 2021;

• $5,125,000 of 5% bonds due May 1, 2022;

• $13.97 million of 5.25% bonds due May 1, 2023;

• $14.7 million of 5% bonds due May 1, 2024; and

• $13.7 million of 5% bonds due May 1, 2025.

The following of the certificates of participation will be redeemed May 1, 2018 at par plus accrued interest:

• $7.57 million of certificates due May 1, 2019;

• $8,345,000 of certificates due May 1, 2020;

• $11,305,000 of certificates due May 1, 2021;

• $11.87 million of certificates due May 1, 2022;

• $10,605,000 of certificates due May 1, 2023;

• $11.14 million of certificates due May 1, 2024;

• $11,695,000 of certificates due May 1, 2025;

• $12,275,000 of certificates due May 1, 2026;

• $12.89 million of certificates due May 1, 2027;

• $12.83 million of certificates due May 1, 2028; and

• $22.92 million of certificates due May 1, 2033.

U.S. Bank NA is the escrow agent.

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