Colorado Springs, Colo., defeases $97 million utilities system bonds

By Tali David

Minneapolis, April 17 - The City of Colorado Springs, Colo., defeased $97 million of its series 2004B, 2004C, 2005B and 2005C utilities system subordinate-lien improvement revenue bonds, according to multiple redemption notices.

The following 2004B bonds will be redeemed at par plus accrued interest:

• $4.7 million of 4.75% bonds due Nov. 15, 2026;

• $4.92 million of 4.75% bonds due Nov. 15, 2027;

• $16.25 million of 5% bonds due Nov. 15, 2030;

• $5,965,000 of 5% bonds due Nov. 15, 2031;

• $6,265,000 of 5% bonds due Nov. 15, 2032;

• $6.58 million of 5% bonds due Nov. 15, 2033; and

• $6.91 million of 4.75% bonds due Nov. 15, 2034.

The city will also redeem $14,265,000 of 2004C bonds due Nov. 15, 2015 through 2030, 2034, 2039 and 2044; $16.04 million of 2005B bonds due Nov. 15, 2016 through 2027, 2039 and 2035; and $15,105,000 of 2005C bonds due Nov. 15, 2016 through 2030, 2035, 2037 and 2045.

The 2004B and 2004C bonds will be redeemed on Nov. 15, 2014, and the 2005B and 2005C bonds will be redeemed on Nov. 15, 2015.

Wells Fargo Bank West, NA is the paying agent.

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