Michigan's State Building Authority to redeem all 1998 series I bonds

By Devika Patel

Knoxville, Tenn., Aug. 27 - The State Building Authority of the State of Michigan announced it plans to redeem all remaining 1998 series I revenue refunding bonds at par on Oct. 15.

The affected securities include $14.08 million in 5.25% bonds due 2010, $14.83 million in 5.25% bonds due 2011, $15.61 million in 5.25% bonds due 2012, $16.43 million in 5.25% bonds due 2013, $17.29 million in 5.25% bonds due 2014, $18.2 million in 5.13% bonds due 2015, $19.13 million in 5.13% bonds due 2016, $20.11 million in 4.75% bonds due 2017, $21.06 million in 4.75% bonds due 2018 and $51.81 million in 4.75% bonds due 2021.

Interest will accrue up to, but not including, the redemption date.

The Bank of New York Mellon Trust Co., Detroit, is the trustee.

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