Florida Board of Education defeases $485.62 million 2003C, 2004A bonds

By Tali David

Minneapolis, July 2 - State of Florida Board of Education defeased $485.62 million of its outstanding full faith and credit public education capital outlay refunding bonds, according to multiple notices.

The bonds will be redeemed at 101 plus accrued interest on June 1, 2014.

The board plans to redeem $163.02 million of its 2003 series C bonds due June 1, 2015 through 2029 and 2034.

The board will also redeem $159.58 million of its 2004 series A bonds due June 1, 2015 through 2031 and 2034.

U.S. Bank Trust NA is the registrar and paying agent. The State Board of Administration of Florida is the escrow agent.

The board is based in Tallahassee, Fla.

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