Los Angeles defeases one series, calls two series of wastewater bonds

By Marisa Wong

Madison, Wis., May 24 - The City of Los Angeles gave notice that it defeased a portion of its wastewater system revenue bonds, refunding series 2005-A.

The refunded bonds include the following:

• $45,245,000 of $60.95 million of 5% bonds due June 1, 2033;

• $47.51 million of $63,995,000 of 5% bonds due June 1, 2034; and

• $49,885,000 of $67,195,000 of 4.75% bonds due June 1, 2035.

The defeased bonds will be redeemed on June 1, 2015 at par.

The issuer also issued redemption notices for its wastewater system subordinate revenue bonds, refunding series 2003-A and 2003-B.

The city will redeem in full its $232.53 million 2003-A bonds and $33.35 million 2003-B bonds on June 24 at par.

U.S. Bank NA is the agent for all three series.

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