Detroit intends to redeem four series of series 2003 bonds on July 1

By Tali David

Minneapolis, May 15 - The City of Detroit called four series of its 2003 bonds, according to multiple notices.

The following 2003A sewage disposal system revenue refunding bonds will be redeemed at par plus accrued interest on July 1:

• $6.11 million of 5% bonds due July 1, 2025;

• $22,925,000 of 5% bonds due July 1, 2026;

• $49,585,000 of 5% bonds due July 1, 2028; and

• $97.45 million of 5% bonds due July 1, 2032.

The following 2003A sewage disposal system senior-lien revenue and revenue refunding bonds will be redeemed at par plus accrued interest on July 1:

• $8,215,000 of 5% bonds due July 1, 2014;

• $8.47 million of 5% bonds due July 1, 2016;

• $8.8 million of 5% bonds due July 1, 2016;

• $9.21 million of 5% bonds due July 1, 2017;

• $9.46 million of 5% bonds due July 1, 2018;

• $4.54 million of 5% bonds due July 1, 2019; and

• $1.96 million of 5% bonds due July 1, 2020.

The following 2003A water supply system revenue senior lien bonds will be redeemed at par plus accrued interest on July 1:

• $2.63 million of 5.25% bonds due July 1, 2019;

• $3,185,000 of 5.25% bonds due July 1, 2020;

• $18.13 million of 5% bonds due July 1, 2023;

• $19,025,000 of 5% bonds due July 1, 2024; and

• $10 million of 5% bonds due July 1, 2025.

The following 2003B water supply system revenue second-lien bonds will be redeemed at par plus accrued interest on July 1:

• $2,585,000 of 4.25% bonds due July 1, 2015;

• $2.6 million of 5.25% bonds due July 1, 2016;

• $2.76 million of 5.25% bonds due July 1, 2017;

• $3,505,000 of 5.25% bonds due July 1, 2018;

• $70,235,000 of 5.25% bonds due July 1, 2032; and

• $25.91 million of 5% bonds due July 1, 2034.

U.S. Bank NA is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.