Mobile Industrial's Barry Plant bonds have mandatory tender

By Tali David

Minneapolis, Aug. 14 - The Industrial Development Board of Mobile, Ala., said its series 2008 pollution control revenue bonds issued for the Alabama Power Co. Barry Plant Project are subject to mandatory tender for purchase, according to a redemption notice.

The bonds will be purchased at par plus accrued interest on Sept. 13.

The mandatory tender is related to the announcement that the interest rate determination method applicable to the bonds will be changed to a new long-term interest rate, effective Sept. 13.

The Bank of New York Mellon Trust Co., NA is the trustee.

Based in Lancaster, Pa., the authority provides funding for hospitals and health care systems within the county. The hospital is also based in Lancaster, Pa.

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