New Jersey Economic defeases some school facilities construction bonds

By Tali Rackner

Norfolk, Va., Sept. 17 – The New Jersey Economic Development Authority partially defeased its 2010 series DD-1 and 2011 series GG school facilities construction bonds, according to two notices.

The following 2010 DD-1 bonds were defeased:

• $11,805,000 of 3% bonds due Dec. 15, 2016;

• $11,935,000 of 4% bonds due Dec. 15, 2016;

• $108,655,000 of 5% bonds due Dec. 15, 2016; and

• $137,735,000 of 5% bonds due Dec. 15, 2017.

The following 2011 GG bonds were defeased:

• $19.13 million of 5% bonds due Sept. 1, 2016;

• $40.12 million of 5% bonds due Sept. 1, 2017;

• $18 million of 5% bonds due Sept. 1, 2018;

• $18 million of 5% bonds due Sept. 1, 2019;

• $38,895,000 of 5% bonds due Sept. 1, 2020; and

• $36.01 million of 5.75% bonds due Sept. 1, 2023.

U.S. Bank NA is the agent.

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