Spartanburg, S.C., defeases $65.05 million of sewer system bonds

By Tali David

Minneapolis, April 16 - The Spartanburg Sanitary Sewer District of South Carolina defeased $8,795,000 of its series 2003A sewer system revenue bonds and $56.25 million of its series 2003B sewer system convertible bonds, according to a notice.

The following 2003A bonds will be redeemed at par plus accrued interest on March 1, 2014:

• $210,000 of 4% bonds due March 1, 2015;

• $220,000 of 4% bonds due March 1, 2016;

• $170,000 of 4.125% bonds due March 1, 2017;

• $3,515,000 of 4.75% bonds due March 1, 2034; and

• $4.68 million of 5% bonds due March 1, 2040.

The following 2003B bonds will be redeemed at par plus accrued interest on March 1, 2014:

• $1,005,000 of 4.5% bonds due March 1, 2026;

• $1.05 million of 4.625% bonds due March 1, 2027;

• $1,095,000 of 4.5% bonds due March 1, 2028;

• $9.01 million of 5.25% bonds due March 1, 2030;

• $9,485,000 of 5% bonds due March 1, 2032;

• $10,455,000 of 5% bonds due March 1, 2034;

• $11.51 million of 4.7% bonds due March 1, 2036; and

• $12.64 million of 5% bonds due March 1, 2038.

U.S. Bank NA is the escrow agent.

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