Central Texas Regional Mobility defeases $122.51 million of bonds

By Marisa Wong

Madison, Wis., June 4 - Central Texas Regional Mobility Authority defeased bonds from three existing series after issuing new series 2013 subordinate lien revenue refunding bonds on May 16, according to a notice.

The authority refunded the following bonds:

• $77,506,077 of 4.69% subordinate lien revenue bonds taxable, series 2005 (and related Tifia secured loan) due Jan. 1, 2042;

• $35 million of 11.625% subordinate lien revenue bonds taxable, series 2010 (Build America Bonds) due Jan. 1, 2040; and

• $10 million of 12.28% subordinate lien revenue bonds taxable, series 2010 (Build America Bonds - direct subsidy) due Jan. 1, 2040.

The defeased bonds will be redeemed on June 5 at par plus accrued interest to the redemption date.

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