JEA, Fla., to redeem its electric system subordinated revenue bonds

By Tali David

Minneapolis, Sept. 16 - JEA, Fla., will redeem four series of its electric system subordinated revenue bonds, according to a notice.

The following 2008 series A bonds will be redeemed at par on Oct. 1:

• $1,995,000 of 3.625% bonds due Oct. 1, 2014;

• $1.69 million of 3.75% bonds due Oct. 1, 2015;

• $1,785,000 of 3.875% bonds due Oct. 1, 2016;

• $1.88 million of 4% bonds due Oct. 1, 2017;

• $1.98 million of 4.25% bonds due Oct. 1, 2018;

• $2.08 million of 4.375% bonds due Oct. 1, 2019;

• $2.19 million of 4.5% bonds due Oct. 1, 2020;

• $2.3 million of 4.7% bonds due Oct. 1, 2021;

• $2.43 million of 4.8% bonds due Oct. 1, 2022;

• $2,555,000 of 4.9% bonds due Oct. 1, 2023;

• $2,695,000 of 5% bonds due Oct. 1, 2024;

• $2.83 million of 5.125% bonds due Oct. 1, 2025; and

• $2,985,000 of 5% bonds due Oct. 1, 2026.

The following 2008 series C bonds will be redeemed at par on Oct. 1:

• $6,885,000 of 5% bonds due Oct. 1, 2013;

• $6.88 million of 3.6% bonds due Oct. 1, 2014;

• $7.28 million of 3.75% bonds due Oct. 1, 2015;

• $5,575,000 of 4% bonds due Oct. 1, 2016;

• $5,175,000 of 4% bonds due Oct. 1, 2017;

• $6,075,000 of 4.2% bonds due Oct. 1, 2018;

• $5,875,000 of 4.375% bonds due Oct. 1, 2019; and

• $1,015,000 of 4.5% bonds due Oct. 1, 2020.

The following 2008 series E bonds will be redeemed at par on Oct. 1:

• $720,000 of 3.25% bonds due Oct. 1, 2014;

• $760,000 of 3.5% bonds due Oct. 1, 2015;

• $790,000 of 3.75% bonds due Oct. 1, 2016;

• $835,000 of 3.75% bonds due Oct. 1, 2017;

• $875,000 of 4% bonds due Oct. 1, 2018;

• $920,000 of 4.25% bonds due Oct. 1, 2019;

• $965,000 of 4.25% bonds due Oct. 1, 2020;

• $1,015,000 of 4.5% bonds due Oct. 1, 2021;

• $1.06 million of 4.5% bonds due Oct. 1, 2022;

• $1,115,000 of 4.5% bonds due Oct. 1, 2023;

• $1.17 million of 4.625% bonds due Oct. 1, 2024; and

• $1.23 million of 4.75% bonds due Oct. 1, 2025.

The following 2009 series C bonds will be redeemed at par on April 1, 2014:

• $730,000 of 4.25% bonds due Oct. 1, 2018;

• $5,025,000 of 4.25% bonds due Oct. 1, 2019; and

• $2.15 of 5% bonds due Oct. 1, 2020.

On Sept. 11, JEA redeemed $20,755,000 of 2000B series B bonds due Oct. 1, 2035, $37.8 million of 2000 series F-1 bonds due Oct. 1, 2030 and $25.2 million of 2000 series F-2 bonds due Oct. 1, 2030.

U.S. Bank, NA is the escrow agent.

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