New York dormitory authority defeases North Shore bonds, calls others

By Wendy Van Sickle

Columbus, Ohio, June 26 – The Dormitory Authority of the State of New York defeased several North Shore-Long Island Jewish Obligated Group revenue bonds, series 2005A, 2005B, 2007A, 2009A and will partially redeem an additional $25.16 million of the series 2009A bonds, according to four notices.

The following series 2005A bonds have been defeased and outstanding bonds will be redeemed Nov. 16, 2016 at par plus accrued interest:

• All $3.39 million of 4% bonds due 2015;

• All $3,435,000 of 4% bonds due 2016;

• All $3,605,000 of 5% bonds due 2017;

• All $3,635,000 of 5% bonds due 2018;

• All $3,915,000 of 5% bonds due 2019;

• All $3,965,000 of 5% bonds due 2020;

• All $4,235,000 of 5% bonds due 2021;

• All $4,285,000 of 5% bonds due 2022;

• All $18,995,000 of 5% bonds due 2026; and

• All $48,665,000 of 5% bonds due 2034.

The following series 2005B bonds have been defeased and outstanding bonds will be redeemed Nov. 16, 2016 at par plus accrued interest:

• All $265,000 of 4% bonds due 2015;

• All $275,000 of 4% bonds due 2016;

• All $3,615,000 of 5% bonds due 2026; and

• All $4,465,000 of 5% bonds due 2034.

All of these bonds have a Nov. 1 due date of their respective years.

The following series 2007A bonds have been defeased and outstanding bonds will be redeemed May 1, 2017 at par plus accrued interest:

• All $3,585,000 of 4.215% bonds due 2016;

• All $3.74 million of 4.255% bonds due 2017;

• All $3.9 million of 4.25% bonds due 2018;

• All $4,085,000 of 4.25% bonds due 2019;

• All $4,295,000 of 5% bonds due 2020;

• All $4,515,000 of 5% bonds due 2021;

• All $4.75 million of 5% bonds due 2022;

• All $4.99 million of 5% bonds due 2023;

• All $5,245,000 of 5% bonds due 2024;

• All $5,515,000 of 5% bonds due 2025;

• All $5.8 million of 5% bonds due 2026;

• All $4,885,000 of 5% bonds due 2027;

• All $1.12 million of 4.5% bonds due 2027;

• All $35.47 million of 5% bonds due 2032; and

• All $45.54 million of 5% bonds due 2037.

All of these bonds have a May 1 due date of their respective years.

The following series 2009A bonds have been defeased and will be redeemed May 1, 2019 at par plus accrued interest:

• All $3.5 million of 5% bonds due 2020;

• All $5 million of 5% bonds due 2021;

• All $25 million of 5.5% bonds due 2030;

• All $30.27 million of 5.25% bonds due 2030;

• All $25 million of 5.25% bonds due 2037; and

• All $112,185,000 of 5.5% bonds due 2037.

All of these bonds have a May 1 due date of their respective years.

The $25.16 million of series 2009A bonds that have been called for partial optional redemption on July 29 have a 5.25% coupon and have a May 1, 2025 due date.

Bank of New York Mellon is the trustee.

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